SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     LITIGATION RELEASE NO. 15377 / May 30, 1997

     SECURITIES AND EXCHANGE COMMISSION V. JUDY HOCKETT, GAYLE RAISOR, AND KEVIN
     RAISOR, Civil Action No. IP97-870-C-D/F (S.D.In. May 29, 1997)

          The Securities and Exchange Commission today announced the filing of a
     Complaint in the United States District Court for the Southern District of
     Indiana alleging that Judy Hockett, Gayle Raisor and Kevin Raisor violated
     Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and
     Rule 10b-5 thereunder by engaging in insider trading in the common stock of
     Adesa Corp. ("Adesa") prior to a public announcement on January 5, 1995,
     that Adesa and Minnesota Power had entered into an agreement under which
     Adesa would become an 80% owned subsidiary of Minnesota Power.  In its
     Complaint, the Commission seeks permanent injunctions against Judy Hockett,
     Gayle Raisor, and Kevin Raisor, disgorgement of trading profits,
     prejudgment interest thereon, and civil penalties.

          Specifically, the Complaint alleges that prior to purchasing shares of
     Adesa, Gayle Raisor received a tip from his sister, Judy Hockett, that
     Adesa would soon be acquired by Minnesota Power and Light Company.  This
     confidential information had been obtained by Judy Hockett from her
     husband, the chief executive officer of Adesa.  In addition to trading in
     the securities of Adesa with knowledge of its potential acquisition by
     Minnesota Power, the Commission's Complaint alleges, Gayle Raisor tipped
     this information to his son, Kevin Raisor, who also engaged in insider
     trading.  Gayle and Kevin Raisor obtained profits of approximately $25,500
     and $4,800, respectively, from their illegal trading in Adesa securities. 

          Simultaneously with the filing of the Complaint, and without admitting
     or denying the allegations therein, Judy Hockett, Gayle Raisor and Kevin
     Raisor each consented to the entries of Final Judgments of Permanent
     Injunction, permanently enjoining each of them from future violations of
     Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.  The Final
     Judgments order Gayle Raisor and Kevin Raisor to disgorge their illegal
     profits of $25,500 and $4,800 respectively, plus prejudgment interest
     thereon and to pay a one-time civil penalty.  Judy Hockett, who did not
     trade in the securities of Adesa, is ordered by the Final Judgments jointly
     and severally liable with Gayle Raisor and Kevin Raisor for the
     disgorgement of their trading profits and to disgorge $30,300, prejudgment
     interest thereon, and to pay a one time civil penalty in the amount of
     $30,300.

          The Commission acknowledges the assistance of the National Association
     of Securities Dealers, Inc. in investigating this matter.






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