Litigation Release No. 19896 / November 2, 2006

Securities and Exchange Commission v. Philip R. Gratz, Case No. 91-2136-CIV-MARRA

Notice of Voluntary Dismissal Filed as to Relief Defendant Christine Gratz

The Securities and Exchange Commission ("Commission") announced that on May 28, 2004, it filed a Notice of Voluntary Dismissal as to its remaining claims against Relief Defendant Christine Gratz. The notice of dismissal lifts the asset freeze and dismisses the Commission's claims for disgorgement against her.

On March 20, 2003, the Commission filed an Emergency Application for an Order to Show Cause Why Defendant Philip R. Gratz d/b/a Phoenix World Wide Enterprises, Inc. Should not be Held in Civil Contempt for disobeying a prior final judgment of permanent injunction entered against him on April 30, 1992. On its Emergency Application the Commission requested that the Court freeze Christine Gratz's assets and order her to disgorge all profits she received from the offer and sale of Philip Gratz's securities.

For additional information see Litigation Releases No. 18051 (March 25, 2003), No. 18243 (July 23, 2003) and No. 18465 November 17, 2003.