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                SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.

LITIGATION RELEASE NO.  15037 / September  11, 1996 

SECURITIES AND EXCHANGE COMMISSION v. TRANS-AMERICAN OSTRICH
TRADERS, INC., LARRY R. EARP, and DAVID P. SILVER, Civil Action
No. 96-1559 RMT (Mcx)(C.D. Cal. March 5, 1996).

     The Securities and Exchange Commission ("Commission") today
announced that the Honorable Robert M. Takasugi of the United
States District Court for the Central District of California
entered final judgments against defendants Larry R. Earp ( Earp )
and Trans-American Ostrich Traders, Inc. ( Trans-American ) on
August 27 and August 22, 1996, respectively.  The final judgment
as to Earp was entered pursuant to Earp s consent, while the
final judgment as to Trans-American was entered upon the
Commission s motion for default judgment.  Earp is a resident of
Palm Desert, California.  The action continues against defendant
David P. Silver ( Silver ).   

     In its Complaint filed on March 5, 1996, the Commission
alleged that all three defendants had violated the securities
registration provisions of the federal securities laws (Sections
5(a) and 5(c) of the Securities Act of 1933 ( Securities Act ))
by offering and selling unregistered securities in a series of
partnerships purportedly organized for the purpose of acquiring,
raising, and breeding ostriches.  Further, the Complaint alleged
that the defendants violated the anti-fraud provisions of the
federal securities laws (Section 17(a) of the Securities Act and
Section 10(b) of the Exchange Act of 1934 ( Exchange Act ), and
Rule 10b-5 thereunder) by making untrue statements of material
facts and by omitting to state material facts in connection with
the offer and sale of the unregistered ostrich partnership
securities.  Finally, the Complaint alleged that Earp and Silver
violated the broker registration provision of the federal
securities laws (Section 15(a) of the Exchange Act) by acting as
brokers without being registered as such with the Commission.

     The Commission alleged in its Complaint that, beginning in
November 1993 and continuing into December 1994, the defendants
offered and sold to the public investments designated as
partnership units in 17 ostrich partnerships.  Defendants raised
at least $7.45 million through the sale of the ostrich
partnership units to approximately 350 investors in at least 40
states.

     The final judgment entered against Earp contains all of the
permanent injunctive relief requested in the Complaint. 
Specifically, Earp is enjoined permanently from violating
Sections 5(a), 5(c), and 17(a) of the Securities Act, Section
10(b) of the Exchange Act, and Rule 10b-5 thereunder, and Section
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15(a) of the Exchange Act.  The final judgment also bars Earp
from acting as an officer or director of any public company.

     The final judgment entered against Trans-American also
contains all of the permanent injunctive relief requested in the
Complaint.  Specifically, Trans-American is enjoined permanently 
from violating Sections 5(a), 5(c), and 17(a) of the Securities
Act and Section 10(b) of the Exchange Act, and Rule 10b-5
thereunder.  In addition, Trans-American is ordered to pay
$7,170,000 in disgorgement, pre-judgment interest thereon in the
amount of $863,342.58, and a civil penalty of $7,170,000.

     The Commission today also announced the institution of
administrative proceedings pursuant to Section 15(b)(4) of the
Exchange Act against Earp based upon the entry of the injunction
described above.  Simultaneous with the institution of these
proceedings, the Commission accepted Earp s Offer of Settlement
in which he consented to the issuance of an order, without
admitting or denying the findings contained therein except the
finding that he was permanently enjoined from violating certain
provisions of the federal securities laws, that bars him from
association with any broker, dealer, municipal securities dealer,
investment adviser, or investment company.  (In the Matter of
Larry R. Earp, Administrative Proceeding File No. 3-9075)


     The prior release concerning this matter is Litigation
Release No. 14835 (March 5, 1996).