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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

Litigation Release No. 14747 / December 6,  1995

SECURITIES AND EXCHANGE COMMISSION v. HAROLD FITZGERALD LENFEST
AND MARGUERITE LENFEST, Civil Action No. 95-7597 (E.D.Pa.
December 6, 1995)

     The Securities and Exchange Commission ("Commission")
announced today the filing of a Complaint in the United States
District Court for the Eastern District of Pennsylvania against
Harold Fitzgerald Lenfest ("H.F. Lenfest") and Marguerite Lenfest
of Huntingdon Valley, Pennsylvania, for their involvement in
insider trading in connection with purchases of Tele-
Communications, Inc. ("TCI") common stock just two days before
the October 13, 1993, announcement that Bell Atlantic Corporation
("Bell Atlantic") intended to acquire Liberty Media Corporation
("Liberty") and TCI.  At the time of the trading, H. F. Lenfest
was a Liberty Board member and an officer and director of Lenfest
Communications, Inc. ("LCI"), a privately held corporation that
was 50% owned by Liberty and 50% owned by the Lenfest family.  At
all relevant times, Marguerite Lenfest was an officer and
director of LCI.  

     The complaint alleges that on October 6, 1993, at a Liberty
Board meeting, H.F. Lenfest learned material, nonpublic
information concerning Bell Atlantic's proposal to acquire
Liberty and TCI.  The complaint also alleges that H.F. Lenfest,
while in possession of such material, nonpublic information, and
in breach of his fiduciary duty to Liberty, recommended that his
son, Chase Lenfest, purchase TCI stock.  The complaint further
alleges that H.F. Lenfest also disclosed such material, nonpublic
information to his wife, Marguerite Lenfest, who, in turn,
misappropriated this information and directed her son, Chase
Lenfest, to purchase TCI or Liberty stock for her account.

       The complaint alleges that on October 11, 1993, Chase
Lenfest purchased 30,000 share of TCI common stock for his own
trust account and 5,000 shares of TCI common stock for his
mother's personal account.

     On October 13, the day of the Bell Atlantic announcement,
TCI Class A common stock closed up $3.00. The unrealized profit
for the trade in Chase Lenfest's account was $103,500, and in
Marguerite Lenfest's, $17,250.  As a result of these purchases of
TCI securities, H.F. Lenfest and Marguerite Lenfest are alleged
to have violated Section 10(b) of the Exchange Act and Rule 10b-
5, thereunder.

     In its complaint, the Commission requests that the Court:
(a) enjoin H.F. Lenfest and Marguerite Lenfest from engaging in
future violations of the Section 10(b) of the Exchange Act and
Rule 10b-5, thereunder;  (b) require H.F. Lenfest and Marguerite
Lenfest to disgorge all illegal profits resulting from the
insider trading alleged therein, together with prejudgment
interest thereon; and (c) order H.F. Lenfest and Marguerite
Lenfest to pay civil penalties pursuant to Section 21A of the
Exchange Act.