SECURITIES AND EXCHANGE COMMISSION
                                      Washington, D.C.


             Securities Exchange Act of 1934
             Rel. No. 41039 / February  10, 1999


             IN THE MATTER OF MADISON GROUP, INC

             Administrative Proveeding File No. 3-9826

                  Administrative Proceedings Initiated to Revoke
                       Registration of Microcap Stock


                  The Securities and Exchange Commission announced today
             that it has instituted public administrative proceedings,
             pursuant to Section 12(j) of the Securities Exchange Act of
             1934, to determine whether to revoke the registration with
             the Commission of the common stock of Madison Group
             Associates, Inc. ("Madison Group").

                  Madison Group, a microcap entertainment company,
             formerly based in Fort Lauderdale, Florida, is presently in
             a liquidation proceeding under the U.S. Bankruptcy Code.
             According to a complaint filed today by the Commission in
             U.S. District Court in Miami, Florida, Madison Group, from
             February 1992 through March 1994, dramatically overstated
             the value of its assets in financial statements filed with
             the Commission.  Securities and Exchange Commission v.
             William T. Craig and Scott R. Sieck, No. 99-6165-CIV-
             Dimitrouleas (S.D. Fla. February 10, 1999). The unconven-
             tional assets at issue, including aging libraries of country
             music video programs, were obtained in exchange for Madison
             Group stock and were generally valued on the basis of overly
             optimistic projections about their commercial potential.
             This misstatement of asset values, the Commission’s
             complaint alleges, allowed Madison Group to maintain a
             listing for its stock on the NASDAQ national market system
             and to sell its stock to the public at inflated prices.

                  A hearing will be held before an Administrative Law
             Judge to determine whether the staff’s allegations in the
             Order Instituting Proceedings are true and, if so, whether
             the company’s registration should be revoked.

                 This enforcement action is part of the Commission’s four-pronged
             approach to minimizing Microcap fraud: enforcement, inspections,
             investor education, and regulation.  For more information about the
             SEC’s response to microcap fraud, visit the SEC’s Microcap Fraud
             Information Center at: http://www.sec.gov/news/extra/microcap.htm.