SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No. 15698 / April 7, 1998

          S.E.C. v. Fidelity Transfer Company and Linda Kener, Civil Action
          No. 93-C-868S (USDC UT)

          On  March  4,  1998, the Honorable David Sam, U.S. District Judge
          for the District  of  Utah,  issued  a  permanent  injunction  by
          consent  against  Fidelity  Transfer Company (Fidelity) and Linda
          Kener  (Kener),  Fidelity's  president.    The   defendants  were
          enjoined from violating Section 17A(d) of the Securities Exchange
          Act  of  1934, and Rules 17Ad-2, 17Ad-6, and 17Ad-10  promulgated
          thereunder.   In  addition,  the order required Fidelity to pay a
          civil penalty of $5,000.  The Commission's complaint alleged that
          Fidelity  violated  certain  rules   and   regulations  governing
          transfer   agents   and  that  Kener  aided  and  abetted   those
          violations.

          The  Commission's  complaint  alleged  that  Fidelity  and  Kener
          violated  the  turnaround   and  books  and  records  regulations
          promulgated  under the Securities  Exchange  Act  of  1934.   The
          violations included  numerous  delays  in the transfer of routine
          items presented for transfer, and substantial  imbalances between
          Fidelity's control book and the master securityholder files.