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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 14868 / April 9, 1996


UNITED STATES OF AMERICA v. HARCOURT WILTSHIRE
CASE NO. 96-6041CR-Roettger (S.D. Fla.)

The Securities and Exchange Commission ("Commission"), the United
States Attorney for the Southern District of Florida, the U.S.
Postal Inspection Service, the Federal Bureau of Investigation,
and the Internal Revenue Service Criminal Investigation Division
announced that an Information was filed on March 25, 1996,
charging Harcourt Wiltshire ("Wiltshire") with conspiring to
commit:  (1) securities fraud; (2) mail fraud; and (3) wire
fraud.  

The Information alleges that during the period July 1993 to
February 1995, Wiltshire was employed by an individual who held
himself out to be a stock promoter, who maintained offices in
Boca Raton and Pompano Beach, Florida.  The promoter was retained
by numerous public companies, with shares traded on NASDAQ and/or
the OTC Bulletin Board, to assist them in promoting their stocks.

The Information further alleges that Wiltshire and the stock
promoter made agreements with register representatives whereby
the representatives, in exchange for monetary payoffs from
Wiltshire and the promoter, agreed to induce their clients to buy
the promoted stocks.

Wiltshire is scheduled to plead guilty on April 5, 1996.