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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 15275 / March 5, 1997

SEC v. Personal Wealth Systems, Inc. and Gary M. Haiser, No. 95-
473-Civ-J-20 (M.D. Fla.).

The Securities and Exchange Commission announced that on February
25, 1997, a Final Judgment of Permanent Injunction and Other
Relief was entered against Personal Wealth Systems, Inc. (PWS)
and Gary M. Haiser (Haiser) by the United States District Court
for the Middle District of Florida.  The final judgment enjoins
PWS and Haiser from future violations of the registration and
antifraud provisions of the federal securities laws, requires
that PWS and Haiser disgorge $7.7 million plus pre-judgment
interest, pay civil money penalties in the amounts of $500,000
and $100,000, respectively, and provide an accounting.  PWS and
Haiser consented to entry of the final judgment without admitting
or denying the allegations in the Commission's complaint.

In its complaint, the Commission alleged (a) from approximately
1986 through 1994, PWS and its president, Haiser, of
Jacksonville, Florida, raised approximately $7.7 million through
the sale of memberships in a multilevel marketing pyramid scheme;
(b) memberships in the pyramid constituted investment contracts,
and thus securities, which were offered and sold to the public in
an unregistered distribution for which no exemption from
registration was available; and (c) in connection with the offer
and sale of the memberships, PWS and Haiser made fraudulent
misrepresentations and omissions of material facts concerning the
prior financial performance of PWS and the risks and potential
returns associated with an investment in the pyramid.

Based on the above, the Commission alleged that PWS and Haiser
violated Sections 5(a), 5(c) and 17(a) of the Securities Act of
1933, Section 10(b) of the Securities Exchange Act of 1934, and
Rule 10b-5, thereunder.

(For Further information, See LR-14688, LR-13659, LR-13604, and
LR-13558) [SEC v. Personal Wealth Systems, Inc. and Gary M.
Haiser, No. 95-473-Civ-J-20 (M.D. Fla.).
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                       NEWS DIGEST SUMMARY

JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST
PERSONAL WEALTH SYSTEMS, INC. AND ITS PRESIDENT, GARY M. HAISER.

The Commission announced that on February 25, 1997, a Final
Judgment of Permanent Injunction and Other Relief was entered
against Personal Wealth Systems, Inc. (PWS) and Gary M. Haiser
(Haiser) by the United States District Court for the Middle
District of Florida.  The final judgment enjoins PWS and Haiser
from future violations of the registration and antifraud
provisions of the federal securities laws, requires that PWS and
Haiser disgorge $7.7 million plus pre-judgment interest, pay
civil money penalties in the amounts of $500,000 and $100,000,
respectively, and provide an accounting.  PWS and Haiser
consented to entry of the final judgment without admitting or
denying the allegations in the Commission's complaint.

In its complaint, the Commission alleged (a) from approximately
1986 through 1994, PWS and its president, Haiser, of
Jacksonville, Florida, raised approximately $7.7 million through
the sale of memberships in a multilevel marketing pyramid scheme;
(b) memberships in the pyramid constituted investment contracts,
and thus securities, which were offered and sold to the public in
an unregistered distribution for which no exemption from
registration was available; and (c) in connection with the offer
and sale of the memberships, PWS and Haiser made fraudulent
misrepresentations and omissions of material facts concerning the
prior financial performance of PWS and the risks and potential
returns associated with an investment in the pyramid.

Based on the above, the Commission alleged that PWS and Haiser
violated Sections 5(a), 5(c) and 17(a) of the Securities Act of
1933, Section 10(b) of the Securities Exchange Act of 1934, and
Rule 10b-5, thereunder.

LR-____. (For Further information, See LR-14688, LR-13659, LR-
13604, and LR-13558) [SEC v. Personal Wealth Systems, Inc. and
Gary M. Haiser, No. 95-473-Civ-J-20 (M.D. Fla.).

Contact Person:  James E. Burt IV (305) 982-6345