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                SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.

Litigation Release No. 15072 / September 26, 1996

SECURITIES AND EXCHANGE COMMISSION v. CERTAIN PURCHASERS OF THE
CALL OPTIONS OF DURACELL INTERNATIONAL, INC., Civil Action No. 96
Civ. 7017 (SAS) (S.D.N.Y.) (filed September 16, 1996)


     On September 26, 1996, the District Court for the Southern
District of New York held a hearing and entered a Preliminary
Injunction in the SEC v. Certain Purchasers of the Call Options
of Duracell International, Inc. litigation.  Defendants failed to
appear at the hearing or to contest the Commission's action. The
Injunction, among other things, continues to freeze defendent's
over $1 million in proceeds from the sale of Duracell call
options in accounts in the name of Nominees (Bahamas) Ltd. and
Banca della Svizzera Italiana at Prudential Securities Inc. and
the Pershing Division of Donaldson, Lufkin & Jennrette Securities
Corp., respectively, and ordered the defendants, the unidentified
beneficial owners of those accounts, to identify themselves.

     On September 16, 1996, the Commission filed a civil
complaint alleging that the defendants engaged in illegal insider
trading prior to the public announcement on September 12, 1996 of
a merger agreement between Duracell and The Gillette Co., and
seeking injunctive relief, disgorgement, and civil penalties.  On
the same day, the court entered an order temporarily freezing the
assets in the defendents' accounts attributable to the trading in
Duracell call options, requiring the defendants to identify
themselves, allowing expedited discovery, and granting other
relief.