UNITED STATES SECURITIES AND EXCHANGE COMMISSION

             LITIGATION RELEASE NO.  16083 /  March 9, 1999

             Securities and Exchange Commission v. Capital Acquisitions, Inc,
             et al., Civil Action No. 2:97-0977S (D. Utah)

             U.S. v. Pete Buffo and Wayne Notwell, Criminal Action No. 2:99-
             0063W (D. Utah)

                  On March 9, 1999, Pete Buffo entered a plea of guilty to
             criminal securities fraud charges in connection with two
             investment schemes.  The Felony Information was filed on February
             24, 1999, by the United States Attorney in Salt Lake City, Utah,
             against Buffo and Wayne Notwell, alleging that the defendants
             perpetrated a "Ponzi" scheme in violation of the federal
             securities laws.  The Felony Information concerns schemes
             perpetrated under the names of Capital Acquisitions, Inc. and the
             Laser Leasing companies, which are also the subjects of a civil
             case brought by the Securities and Exchange Commission.  The
             Commission filed its complaint against Notwell, Capital
             Acquisitions, and others in December 1997, and then amended the
             complaint in September 1998 to add Buffo, Laser Leasing, and
             related entities.  According to the Commission’s amended
             complaint, Notwell, Buffo, and others raised approximately $31
             million from over 600 investors through offerings of Capital
             Acquisitions and Laser Leasing promissory notes.  On the
             Commission’s motion, the Court appointed a receiver for Capital
             Acquisitions, Laser Leasing, and related companies in September
             1998.

                  The Felony Information alleges that Buffo was primarily
             responsible for the Capital Acquisitions and Laser Leasing
             offerings, and that Notwell worked with Buffo by administering
             money raised in the offerings and holding positions as officers
             in the issuers.  The offerings were alleged to be Ponzi schemes,
             in that money sent to investors as a return on investment
             actually derived from funds obtained from other investors.  The
             Information also alleges that the defendants failed to disclose
             or misrepresented facts pertaining to the business of Laser
             Leasing and Capital Acquisitions, and to the uses of offering
             proceeds, including commissions paid to sales agents.  The
             Commission assisted the United States Attorney’s office in the
             investigation that led to the Felony Information.

                  For further information on this case, please see Litigation
             releases 15868 (September 2, 1998), 15670 (March 13, 1998), and
             15601 (December 23, 1997).