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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 14656 / September 28, 1995
ACCOUNTING AND AUDITING ENFORCEMENT RELEASE NO. 721
      
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SECURITIES AND EXCHANGE COMMISSION V. BALANCE FOR LIFE, INC.,
RICHARD K. STEELE SR., RICHARD K. STEELE JR., PETER C. TOSTO, AND
MARCIA ANN COPPERTINO, Civil Action No. 95-D-2471, USDC/Colorado


     The Securities and Exchange Commission ("Commission"), today
announced the filing of a Complaint against Balance For Life,
Inc. ("BFL"), Richard K. Steele Sr. ("Steele Sr."), Richard K.
Steele Jr. ("Steele Jr."), Peter C. Tosto ("Tosto") and Marcia
Ann Coppertino ("Coppertino") in the U.S. District Court for the
District of Colorado.  The Complaint alleges that the defendants
violated the securities and broker-dealer registration provision-
s, the anti-fraud provisions, and certain books, records and
reporting provisions of the federal securities laws.  Specifical-
ly, the Commission's Complaint alleges that from 1991 through
late 1994, BFL conducted three unregistered offerings of its
stock raising more than $1.4 million from at least 82 investors,
and that defendants Steele Sr., Steele Jr. and Tosto made false
and misleading statements in these offers and sales regarding,
among other things, imminent public trading of BFL stock on the
NASDAQ stock exchange, prices or ranges of prices at which BFL
would trade in the future, the risks involved, the financial
condition of BFL, and the use of investor proceeds.  Further, in
connection with the offerings, the defendants distributed false
and misleading financial statements which were in fact not
audited, but falsely purported to have been audited by defendant
Coppertino, who is not and never has been a Certified Public
Accountant.  In addition, the Complaint alleges violations of
Section 13(b) and 15(d) of the Exchange Act in that BFL failed to
keep adequate internal controls, financial books and records, and
failed to file required periodic reports with the Commission or
has filed such reports late.