UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release No. 15796 / June 30, 1998


     SECURITIES AND EXCHANGE COMMISSION V. NICHI CAPITAL, LTD., OLAWANDE A. AGUNLOYE,
     WISE CHOICE DISCOUNT BROKERAGE, INC., RALPH ANTEBY, AND BRIAN WALFISH, AND
     STRATEGIC RISK MANAGEMENT AS RELIEF DEFENDANT, 98 Civ. 2218 (CSH) (S.D.N.Y)

     The Securities and Exchange Commission ("Commission") announced today that

     Relief Defendant Strategic Risk Management, has consented to the issuance

     of a Final Judgment by the Honorable Charles S. Haight, Jr., Senior Judge

     of the United States District Court for the Southern District of New York,

     ordering it to disgorge $100,000 it obtained from Wise Choice Discount

     Brokerage, Inc. ("Wise Choice"), a registered broker-dealer located in

     Manhattan.  Disgorgement of the remaining $204,000 received by Strategic

     from Wise Choice was waived based on Strategic's demonstrated inability to

     pay.



     In its Complaint, filed March 27, 1998, the Commission alleges that since

     October 1997, Nichi Capital, Ltd. ("Nichi"); Wise Choice; Nichi's

     President, Olawande A. Agunloye ("Agunloye"); and two registered

     representatives of Wise Choice, Ralph Anteby and Brian Walfish

     (collectively the "Defendants"); have induced over $200,000 in investments

     in Nichi securities by misrepresenting to investors that an IPO of Nichi

     stock was about to take place and that their money would be placed in an

     escrow account until the IPO took place.  The Commission alleges that, in

     fact, the investors' money was used by Agunloye, at least in part, in

     connection with his acquisition of an equity interest in relief defendant

     Strategic Risk Management, Inc.


                             
     See also Lit Rel. # 15688, dated March 27, 1998.


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