SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     LITIGATION RELEASE NO. 15403 / July 2, 1997

     SECURITIES AND EXCHANGE COMMISSION v. QUALIFIED PENSIONS, INC., ET AL.,
     Civil Action No. 95-1746 (LFO)(D.D.C.)

          The Securities and Exchange Commission ("Commission") announced that
     the United States District Court for the District of Columbia entered Final
     Judgments of Permanent Injunction against defendants Jerry G. Allison
     ("Allison") and Qualified Pensions, Inc. ("QPI") on June 17, 1997 and June
     4, 1997, respectively.  As previously announced, the Commission alleged
     that QPI and Allison defrauded investors by misappropriating millions of
     dollars in retirement savings that were entrusted to QPI by its clients to
     be maintained in Individual Retirement Accounts ("IRA") and other
     retirement savings plans, and executed securities transactions for their
     clients without registering as brokers.  Subsequently, the Court-appointed
     Receiver of QPI, Robb Evans, has determined that as of September 13, 1995,
     the date that this action was filed, there was a shortfall of over $11.4
     million in cash that had been on deposit in QPI customer accounts.  The
     Receiver, among other things, has been pursuing assets misappropriated from
     QPI and winding down the business of QPI.

          The Permanent Injunction against Allison was entered by default on
     motion of the Commission.  QPI, by the Receiver, consented to the entry of
     a Permanent Injunction against it without admitting or denying the
     allegations of the Complaint.  The injunctions prohibit both parties from
     violating Section 17(a) of the Securities Act of 1933, Sections 10(b),
     15(a), and 15(c) of the Securities Exchange Act of 1934 ("Exchange Act"),
     and Exchange Act Rule 10b-5, which are the antifraud and broker-dealer
     registration provisions of the federal securities laws.  The Court reserved
     its judgment on the Commission's claims for disgorgement against Allison,
     QPI, and The Lynx Land and Mining Company, Allison's alter-ego and a relief
     defendant in the action, until the Receiver has completed his efforts to
     recover dissipated assets on behalf of QPI's customers and has submitted to
     the Court a final accounting of the losses sustained by QPI's customers.
     (For further information, see Litigation Release Nos. 14636, 14642, and
     14680)













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