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                SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C.

Litigation Release No. 14993 / July 30, 1996

Securities and Exchange Commission v. Equity AU, Inc.
Case No. 96-CV-01775 (D.D.C.) (filed July 30, 1996)

     On July 30, 1996, the Commission filed a complaint in the
United States District Court for the District of Columbia against
Equity AU, Inc.  The complaint alleges that Equity AU, a
publicly-owned gold mining and exploration company located in
Mena, Arkansas, failed to make available to the investing public
current and accurate information about its financial condition
and results of operation through the filing of periodic reports
with the Commission as required by the Securities Exchange Act of
1934 ("Exchange Act").  Specifically, the complaint alleges that
Equity AU has not filed its Annual Report on Form 10-K for the
fiscal year ended December 31, 1995, four Quarterly Reports on
Form 10-Q, and seven Notifications of Late Filing with respect to
its delinquent reports and failed to timely file two Annual
Reports on Form 10-K and a Quarterly Report on Form 10-Q.  The
Commission seeks to compel Equity AU to file certain delinquent
periodic reports and to enjoin Equity Au from further violations
of Section 13(a) of the Exchange Act of 1934 and Rules 12b-25,
13a-1 and 13a-13 thereunder.  Simultaneously with the filing of
the Commission's complaint, Equity AU consented to the entry of a
Final Judgment granting the relief sought by the Commission and
admitted that it had not filed and had filed late the periodic
reports as described above.