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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 15048 / September 16, 1996

SECURITIES AND EXCHANGE COMMISSION v. ROYAL AMERICAN MANAGEMENT,
INC.,et al., CIV-94:1619-T, USDC, WD/OK

     The Securities and Exchange Commission ("Commission")
announced that on July 31, 1996, a final judgment was entered in
United States District Court in Oklahoma City, Oklahoma, against
Anthony Escobar ("Escobar"). Without admitting or denying the
allegations in the Commission's complaint, Escobar consented to
be permanently enjoined from future violations of the securities
registration and anti-fraud provisions of the federal securities
laws based on his participation in the offering of the common
stock of Omnet Corporation ("Omnet"), a penny stock company.
According to the complaint, Escobar, and other defendants in this
case, engaged in the fraudulent activity in order to artificially
inflate the stock price of Omnet and personally benefit by
selling shares they controlled at inflated prices.

      The Court also ordered Escobar to pay disgorgement in the
amount of $30,600, which represents the proceeds attributable to
him from the allegedly unlawful sales of securities, plus
prejudgment interest of $9,601.48. However, the payment of all
disgorgement and prejudgment interest was waived based on
Escobar's demonstrated financial inability to pay. Additionally,
the Court did not impose a civil penalty because of Escobar's
poor financial condition.
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ANTHONY ESCOBAR PERMANENT ENJOINED IN PENNY STOCK SCHEME PARKER

     The Commission  announced that on July 31, 1996, a final
     judgment was entered in United States District Court in
     Oklahoma City, Oklahoma, against Anthony Escobar (Escobar).
     Without admitting or denying the allegations in the
     Commission's complaint, Escobar consented to be permanently
     enjoined from future violations of the securities
     registration and anti-fraud provisions of the federal
     securities laws based on his participation in the offering
     of the common stock of Omnet Corporation, a penny stock
     company. According to the complaint, Escobar, and other
     defendants in this case, engaged in the fraudulent activity
     in order to artificially inflate the stock price of Omnet
     and personally benefit by selling shares they controlled at
     inflated prices.

     The Court also ordered Escobar to pay disgorgement in the
     amount of $30,600, which represents the proceeds
     attributable to him from the allegedly unlawful sales of
     securities, plus prejudgment interest of $9,601.48. However,
     the payment of all disgorgement and prejudgment interest was
     waived based on Escobar's demonstrated financial inability
     to pay. Additionally, the Court did not impose a civil
     penalty because of Escobar's poor financial condition.



Phillip W. Offill
Trial Counsel
Fort Worth District Office
817/978-6450