-------------------- BEGINNING OF PAGE #1 ------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 14678 / October 4, 1995 SECURITIES AND EXCHANGE COMMISSION v. EDWARD A. CANTOR, MICHAEL LEVINE AND DAVID P. SCHWARTZ, 94 Civ. 8079 (JGK) The Commission announced today that defendant Edward A. Cantor, without admitting or denying the allegations in the Complaint, has consented to the entry of a final judgment (1) permanently enjoining him from future violations of Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3 thereunder; and (2) ordering him to pay $232,637.36 in disgorgement plus prejudgment interest, and $148,219.36 as a civil penalty under the Insider Trading and Securities Fraud Enforcement Act of 1988. The judgment was entered by the United States District Court for the Southern District of New York on September 19, 1995. The Complaint alleges that on November 9, 1989, while in possession of material, nonpublic information relating to the tender offer for DeSoto, Inc. announced later that day, defendant Cantor purchased 35,000 shares of DeSoto, Inc. for a total cost of about $1,443,750. The litigation is pending against defendants Michael Levine and David P. Schwartz. For further information, see Litigation Release No. 14329 (November 9, 1994).