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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15117 / October 11, 1996

SEC v. JAMES S. FALLER, II and Rolan Colon, Civil No. 96-7125
CIV-Nesbitt (S.D. Fl)

     The Securities and Exchange Commission ("Commission") today
announced that on September 30, 1996, a complaint was filed in
the U.S. District Court for the Southern District of Florida
against James S. Faller, II ("Faller") of Augusta, Georgia and
Rolan Colon ("Colon") of Hialeah, Florida, alleging violations of
Section 17(a) of the Securities Act of 1933 ("Securities Act")
and Section 10(b) of the Securities Exchange Act of 1934
("Exchange Act") and Rule 10b-5 thereunder.  The Commission is
seeking permanent injunctions and disgorgement.

     The complaint alleges that Faller and Colon, while
consultants to Evro Corporation, caused Evro Corporation to issue
a false press release on August 23, 1993.  Evro Corporation was
located in Tampa, Florida.  Its stock is traded on NASDAQ.  The
false press release stated that Evro had obtained a $30 million
loan commitment to finance the development and sale of its
products.  The complaint alleges that Faller and Colon were
engage to obtain the $30 million loan for Evro.  Further, it
alleges that prior to the issuance of the false release, Faller
and Colon, in violation of their fiduciary duty owed to Evro
Corporation and its shareholders, while in possession of material
non-public information, each purchased 20,000 shares of Evro
common stock which they sold shortly after the issuance of the
release at profits of over 40%.  The complaint further alleges
that no loan was ever made to Evro Corporation and that Faller
and Colon knew no loan would be made to Evro Corporation by the
purported lender.