U.S. SECURITIES AND EXCHANGE COMMISSION

     Litigation Release No. 15676 / March 18, 1998

     Securities and Exchange Commission v. Roger D. Wyatt and David L.
     Holewinski, Civil Action No. 96-5399 TJH (Mcx) (C.D. Cal.)

          The Securities and Exchange Commission announced that on March 12,
     1998, the Honorable Terry J. Hatter, Jr., United States District Judge for
     the Central District of California, entered a Final Consent Judgment of
     Permanent Injunction, Disgorgement, and Civil Penalty against David L.
     Holewinski of Yardley, PA for insider trading in the securities of Chantal
     Pharmaceutical Corporation, a Los Angeles based company.  According to the
     Commission's Complaint, filed on August 5, 1996, Holewinski sold all of his
     and his wife's Chantal stock prior to a public announcement by Chantal, on
     February 25, 1993, that The Upjohn Company had terminated a licensing
     agreement with Chantal because tests showed that Chantal's Cyoctol compound
     was not an effective anti-acne drug.  The Complaint further alleged that
     Chantal's joint venture with Upjohn was its sole source of income at the
     time.  

          The Complaint also alleged that between mid-January 1993 and February
     25, 1993, Roger D. Wyatt of Houston, while acting as a consultant to
     Chantal, became aware of confidential information concerning Upjohn's
     testing of Cyoctol and conveyed this information to Holewinski, an
     individual with whom Wyatt maintained a close, personal and business
     relationship.  Holewinski, in turn, directed his broker to sell all of his
     and his wife's Chantal shares immediately following a telephone
     conversation with Wyatt on February 25, 1993.  Holewinski's trades occurred
     just before the public announcement by Chantal. 

          Holewinski, without admitting or denying the allegations in the
     Complaint, consented to a Judgment that permanently enjoined him from
     future violations of the antifraud provisions of the federal securities
     laws (specifically, Section 17(a) of the Securities Act of 1933 and Section
     10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 promulgated
     thereunder), and ordered him to disgorge losses avoided in the amount of
     $28,162, plus prejudgment interest in the amount of $4,921.41.  The Consent
     Judgement also ordered Holewinski to pay a civil penalty in the amount of
     $28,162.  On November 24, 1997, a judgment in the amount of $209,205.21 was
     entered against Wyatt as a result of his own insider trading in Chantal
     stock and his role in tipping Holewinski.

          For additional information, See Litigation Release Nos. 15002 (August
     6, 1996) and 15586 (December 9, 1997).








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