UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     LITIGATION RELEASE NO. 15393 / June 24, 1997

     SECURITIES AND EXCHANGE COMMISSION v. JURY MATT HANSEN, FERGUS SLOAN, ET
     AL., 89 Civ. 5242 (RO) (S.D.N.Y.)

     SECURITIES AND EXCHANGE COMMISSION v. JURY MATT HANSEN, FERGUS SLOAN,
     CHRISTIE HANSEN, ET AL., 95 Civ. 9143 (RO) (S.D.N.Y.)

          The Securities and Exchange Commission ("Commission") announced that
     on June  , 1997, the United States District Court for the Southern District
     of New York entered Final Judgments of Permanent Injunctive and Other
     Relief on Consent against Jury Matt Hansen ("Hansen") and Fergus Sloan
     ("Sloan") and a Final Judgment of Disgorgement on Consent against Christie
     Hansen ("C. Hansen"), in two actions arising out of alleged "free-riding"
     schemes orchestrated by Sloan and Hansen.  "Free-riding" is a scheme which
     involves purchasing stock in an account at one brokerage firm, without
     having the funds to pay for it, and financing the purchase by selling the
     same stock through another brokerage firm on the same day.

          In case 89 Civ. 5242 (RO), the Commission's Amended Complaint alleged
     that, from approximately January 1985 through July 1989, Hansen and Sloan
     opened at least 250 accounts at approximately 100 brokerage firms in
     approximately 76 assumed names to conduct a "free-riding" scheme.  The
     scheme reaped over $4 million in profits for Hansen and Sloan and, when
     they refused to honor certain unprofitable stock transactions, caused
     hundreds of thousands of dollars in losses to the brokerage firms through
     which they traded.

          In case 95 Civ. 9143 (RO), the Commission's Complaint alleged that,
     beginning in approximately December 1989, Hansen, Sloan, and the other
     individual defendants opened over 645 cash accounts at more than 62
     brokerage firms using approximately 40 assumed names to perpetrate a "free-
     riding" scheme.  During a four year period, Hansen, Sloan and the other
     individual defendants traded over $260 million worth of securities in cash
     accounts, shifting the risk of loss to unwitting brokerage firms.  Hansen
     and Sloan realized $879,380 and $1,597,550, respectively, in profits.

          Without admitting or denying the allegations in the Commission's
     Complaints, Hansen and Sloan each consented to permanent injunctions
     against violating (i) Section 17(a) of the Securities Act of 1933, (ii)
     Sections 7(f) and 10(b) of the Securities Exchange Act of 1934 and Rule
     10b-5, and (iii) 

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     Regulation X promulgated by the Board of Governors of the Federal Reserve
     System.  Sloan, Hansen, and C. Hansen also consented to pay $6,110,971,
     $5,392,801, and $359,000, respectively, in disgorgement, plus prejudgment
     interest, subject to waivers based on their demonstrated inability to pay.


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          Hansen and Sloan also consented prior to participating in the purchase
     or sale of any security which is cleared or settled through any entity
     ("Clearing Agent") to provide the Clearing Agent with copies of the
     Commission's Complaint in civil action number 95 Civ. 9143 (RO) and their
     respective Final Judgments, thus providing the Clearing Agent with prior
     notice of the Commission's "free-riding" allegations against them.  Hansen
     and Sloan also have consented to certify to the Commission staff that they
     have complied with this notification provision.













































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