UNITED STATES SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No. 15848 / August 14, 1998

          Securities and Exchange Commission v. First Zurich National
          U.S.A., LLC, et al., Civil Action No. 98-CV-029D, USDC, D.
          Wyoming
          
          The Securities and Exchange Commission ("Commission") announced
          on that on July 22, 1998, a Judgement of Permanent Injunction
          ("Order") was entered by default against defendants First Zurich
          National USA, LLC ("First Zurich"), Compunomics 139, Inc.
          ("Compunomics"), and Douglas Paul Catchings ("Catchings"), by the
          Honorable William F. Downes, of the United States District Court,
          for the District of Wyoming.
          
          The Order permanently enjoins the defendants from violations of
          the anti-fraud provisions of Sections 17(a) of the Securities Act
          of 1933, and Section 10(b) and Rule 10b-5 of the Securities
          Exchange Act of 1934. The Order requires the defendants to
          jointly and severally disgorge $4,370,425 plus prejudgment and
          postjudgment interest to be determined later. The Order also
          requires defendant Cathings to pay a civil penalty of $100,000.
          In addition, the Order: continues the appointment of the Special
          Officer appointed earlier by the Court to take possession of the
          business premises of First Zurich and Compunomics; requires the
          defendants to perform an accounting of investor funds; requires
          the defendants to repatriate investor funds to the U.S.;
          continues in effect a freeze of defendants' assets; orders
          Catchings to surrender his passport to the Court; and continues
          in effect a previous warrant issued for the arrest of Catchings
          based on the Court's finding him to be in contempt of various
          Court orders.
          
          For further information see Litigation Releases 15634 (February
          3, 1998), 15639 (February 10, 1998), and 15645 (February 18,
          1998).