U.S. SECURITIES AND EXCHANGE COMMISSION

     Litigation Release No. 15776 /June 9, 1998

     United States v. Roger Wyatt, CR No. 97-1268 (C.D. Cal.)

          The Securities and Exchange Commission announced that on June 8, 1998,
     the Honorable Terry J. Hatter, Jr., United States District Judge for the
     Central District of California, ordered Roger D. Wyatt of Houston to serve
     a 15 month sentence and to pay a $20,000 fine for committing perjury in an
     insider trading investigation and civil suit brought by the Commission.  
     Wyatt had previously pled guilty to one count of perjury in response to an
     information filed by the United States Attorney for the Central District of
     California.

          On November 24, 1997, the Commission obtained a Final Judgment against
     Wyatt enjoining him from future violations of the antifraud provisions of
     the federal securities laws and ordering him to pay disgorgement in the
     amount of $50,125.00, representing the amount of losses he and his tippee
     avoided from insider trading plus prejudgment interest in the amount of
     $8,705.21 and civil penalties in the amount of $209,205.21.

          In August 1996, the Commission filed a Complaint against Wyatt,
     alleging insider trading in connection with his February 1993 sale of
     Chantal Pharmaceutical Corporation stock.  The Complaint alleged that the
     sale took place prior to a public announcement by Chantal, on February 25,
     1993, that The Upjohn Company had terminated a licensing agreement with
     Chantal because tests showed that Chantal's Cyoctol compound was not an
     effective anti-acne drug.  The Complaint further alleged that Chantal's
     joint venture with Upjohn was its sole source of income at the time.  

          The Complaint also alleged that between mid-January 1993 and February
     25, 1993, Wyatt, while acting as a consultant to Chantal, became aware of
     confidential information concerning Upjohn's testing of Cyoctol and sold
     10,000 Chantal shares through a brokerage account in the Cayman Islands. 
     Additionally, the Complaint alleged that Wyatt conveyed this information to
     David L. Holewinski, an individual with whom Wyatt maintained a close,
     personal and business relationship.  Holewinski, in turn, directed his
     broker to sell all of his and his wife's Chantal shares immediately
     following a telephone conversation with Wyatt on February 25, 1993. 
     Holewinski's trades occurred just before the public announcement by
     Chantal.  

          For additional information, See Litigation Release Nos. 15002 (August
     6, 1996), 15586 (December 9, 1997) and 15676 (March 18, 1998.










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