UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release No. 15428 / August 4, 1997

     Securities and Exchange Commission v. Atlantic Capital Corporation, Wall
     Street Marketing, Inc., Pullman Publications, Inc., Stephen DeCesare, Mark
     Missler, Patrick Kephart, Howard Jenkins, Scott Mijares, Robert Thomas
     Beatty, Vincent St. Clair Beatty, Michael Cardascia, David Scott Rossman,
     Adrian Wilson, Timothy B. Daley, and David M. Connochie (M.D. Fla.) 96 Civ. 


          The Commission announced today that three stockbrokers, previously
     charged with receiving kickbacks in exchange for selling certain securities
     to their clients, have settled the charges against them.  On September 27,
     1996, the Commission filed a Complaint in U.S. District Court for the
     Middle District of Florida alleging that a group of stock promoters engaged
     in an 18-month fraudulent scheme in which they paid $477,580 in bribes to
     seven stockbrokers to induce them to retail securities to the public.  The
     Complaint alleges that the promoters netted approximately $2.6 million from
     the scheme.

          The settling stock brokers are:

          Robert Thomas Beatty ("Robert Beatty"), age 55, of Hollywood, Florida,
          who was employed by First New England Securities Corp. in Deerfield
          Beach, Florida during the relevant period;

          Vincent St. Clair Beatty ("Vincent Beatty"), age 34, of Parkland,
          Florida, who was employed by First New England during the relevant
          period;

          David Scott Rossman ("Rossman"), age 38, of Castlerock, Colorado, who
          was employed by Kemper Securities in Denver, Colorado during the
          relevant period;

          Robert Beatty consented, without admitting or denying the allegations
     in the Complaint, to the issuance of a Final Judgment by Judge Patricia C.
     Fawsett of the United States District Court for the Middle District of
     Florida enjoining him from future violations of Section 17(a) of the
     Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of
     1934 and Rule 10b-5 -- the "antifraud" provisions of the federal securities
     laws.  Robert Beatty's disgorgement of the bribes he received was waived,
     and a civil penalty not imposed, based on his demonstrated inability to
     pay.  Robert Beatty also consented to the issuance of an Order by the
     Commission barring him from association with any broker-dealer, investment
     company, investment adviser or municipal securities dealer with a right to
     reapply after three years.

          Vincent Beatty also consented, without admitting or denying the
     allegations in the Complaint, to the issuance of a Final Judgment enjoining
     him from future violations of the antifraud provisions.  Vincent Beatty's
     disgorgement of the bribes he received was waived, and a civil penalty not
     imposed, based on his demonstrated inability to pay.







          Rossman consented, without admitting or denying the allegations in the
     Complaint, to the issuance of a Final Judgment: (1) enjoining him from
     future violations of the antifraud provisions; (2) ordering him to disgorge
     $3,261 representing the bribes he received, plus prejudgment interest; and
     (3) ordering him to pay a civil penalty of $5,000.  Rossman also consented
     to the issuance of an Order by the Commission barring him from association
     with any broker-dealer, investment company, investment adviser or municipal
     securities dealer with a right to reapply after one year.
      
          The remaining defendants are:

          Atlantic Capital Corporation, Wall Street Marketing, Inc., and Pullman
          Publications, Inc., affiliated corporations located in Orlando,
          Florida (collectively, "Atlantic"); 

          Stephen DeCesare, age 35, of Winter Park, Florida, an officer and
          director of Atlantic;

          Mark Missler, age 35, of Alamonte, Florida, an officer and director of
          Atlantic;

          Patrick Kephart, age 32, of Apopka, Florida, an employee of Atlantic;

          Howard Jenkins, age 44, of Plano, Texas, a consultant to Atlantic, who
          resided in Ovida, Florida during the relevant period;  

          Scott Mijares, age 36, of Winter Park, Florida, an employee of and/or
          consultant to Atlantic; (collectively, the "Promoter Defendants")

     and the following Broker Defendants:  

          Michael Cardascia, age 30, of Centerport, New York, who was employed
          by Corporate Securities Group of Orlando, Florida during the relevant
          period;

          Adrian Wilson, age 36, of Salt Lake City, Utah, who was employed by
          Covey & Co. in Salt Lake City during the relevant period; 

          Timothy B. Daley, age 35, of Odessa, Florida, who was employed by
          Paragon Capital Corporation in Tampa, Florida during the relevant
          period; and 
          David M. Connochie, age 42, of Tampa, Florida and Denver, Colorado,
          who was employed by Paragon Capital and by Mayfair Securities, Inc. in
          Florida and Schneider Securities, Inc. in Denver during the relevant
          period.

     For further information See Litigation Release No. 15082, September 27,
     1996 





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