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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION


SECURITIES EXCHANGE ACT OF 1934

Release No. 38433 / March 24, 1997

ADMINISTRATIVE PROCEEDING File No. 3-9279 

ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST MATT MATSON

     The Commission announced that it instituted public
administrative proceedings pursuant to Section 15(b) of the
Securities Exchange Act of 1934 against Matt Matson ("Matson") of
Coral Springs, Florida.  Matson is alleged to have been
permanently enjoined from violating the registration and anti-
fraud provisions of the federal securities laws in connection
with the sale of penny stock from at least October 1995 through
July 1996.  

     A hearing will be scheduled to determine whether the
allegations against Matson are true, and if so, what sanctions,
if any, are appropriate in the public interest against Matson.