SECURITIES AND EXCHANGE COMMISSION 
                                         

     LITIGATION RELEASE NO. 15372 / May 22, 1997

     Securities  and Exchange Commission v. Balance for Life, Inc., Richard
     K. Steele, Sr., Richard K. Steele, Jr., Peter C. Tosto, and Marcia Ann
     Coppertino, D. Colo. Civil No. 95-D-2471.

        The Securities and  Exchange Commission announced  that on May  12,
     1997, Judge  Wiley Y. Daniel  of the United States  District Court for
     the  District  of  Colorado  issued  a  Final  Judgment  of  Permanent
     Injunction  and  Other Relief  which  was entered  by  consent against
     defendant   Richard  K.  Steele,  Jr.,  a   resident  of  Dana  Point,
     California. 

          The  Court   enjoined  Steele   Jr.  from   selling  unregistered
     securities in violation of Section 5(a) and (c) of the Securities Act,
     making  false statements in connection with the sales of securities in
     violation of Section 17(a) of the  Securities Act and Section 10(b) of
     the Exchange  Act, selling  securities without  being registered  as a
     broker-dealer in violation of Section 15(a)(1) of the Exchange Act.

          The  SEC's Amended  Complaint alleged  that, among  other things,
     from  1991 through 1994, Steele Jr. and  others sold shares of Balance
     for Life, Inc.  common stock to 82 investors for  proceeds of at least
     $1,400,000 while  there  was no  registration statement  in effect  or
     filed  with  the Commission,  and without  complying  with any  of the
     available exemptions from registration.  The Amended Complaint alleges
     that Steele  Jr. made false  statements to prospective  investors that
     the stock  of Balance for  Life would  soon publicly trade  on Nasdaq,
     that Balance for  Life would earn $0.85 per share  and $2.14 per share
     in 24 and 36  months, and claimed that  the stock of Balance  for Life
     would  soon trade  at $17  to  $45 per  share, all  without reasonable
     basis.  In  fact, Balance for Life did not  have sufficient assets for
     listing on  Nasdaq,  had no  operations  and a  net  loss in  1990  of
     $177,000.  The Amended Complaint also alleges that Steele Jr. acted as
     an unregistered  broker-dealer selling  the securities of  Balance for
     Life  to the  general  public  before  he  became  associated  with  a
     brokerage firm in 1993.  

          The Final  Judgement ordered  Steele Jr. to  disgorge $29,122.50,
     the commissions he earned from this sales of the securities of Balance
     for  Life, Inc.  Civil penalties and pre-judgment interest were waived
     based on Steele Jr. demonstrated inability to pay additional moneys.








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