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                SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C.

LITIGATION RELEASE NO. 15303 / March 21, 1997

SECURITIES AND EXCHANGE COMMISSION V. AMERICOMM PROPERTIES, INC.
ET AL., Civ. No. 96-CV-01848 (D.D.C., filed August 7, 1996).

     The Securities and Exchange Commission announced that on
March 5, 1997, Judge Thomas Penfield Jackson of the United States
District Court for the District of Columbia entered a Final
Judgment of Permanent Injunction and Other Equitable Relief
against Paul Jay Shiffman ("Shiffman").  The Commission's
complaint, filed on August 7, 1996, alleged that between
approximately July 1993 and August 1994, Shiffman participated in
the fraudulent offer and sale of unregistered securities in the
Golden Triangle Wireless Television Partnership, a California
general partnership.  The complaint also alleged that the
fraudulent offering raised $8 million and that the unregistered
securities were sold to 550 investors in more than 35 states.  

     Shiffman, without admitting or denying the Commission's
allegations, consented to the entry of the final judgment, which 
permanently enjoins Shiffman from violating Sections 5(a), 5(c)
and 17(a) of the Securities Act of 1933 and Section 10(b) of the
Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  The
final judgment orders Shiffman to pay the sum of $161,000,
representing disgorgement of his gains from the conduct alleged
in the complaint, but waives payment of the disgorgement based on
Shiffman's demonstrated inability to pay.  All of the other
defendants in this action previously consented to the entry of
final judgments of permanent injunction.  See Litigation Release
No. 15006 (August 7, 1996).