SECURITIES AND EXCHANGE COMMISSION
                                                        Washington, D.C.

         LITIGATION RELEASE NO. 15437 / August 11, 1997  
                                                        

         SECURITIES AND EXCHANGE COMMISSION v. TRANS-AMERICAN OSTRICH TRADERS, INC., LARRY R. EARP, and DAVID P. SILVER, Civil Action
         No. 96-1559 RMT (Mcx)(C.D. Cal. March 5, 1996).

                 The Securities and Exchange Commission ("Commission") today announced that on June 18, 1997, the Honorable Robert M.
         Takasugi of the United States District Court for the Central District of California entered a final judgment against defendant
         David P. Silver ( Silver
                                 ). 

                 In its Complaint filed on March 5, 1996, the Commission alleged that Silver and the other defendants had violated the
         securities registration provisions of the federal securities laws (Sections 5(a) and 5(c) of the Securities Act of 1933
         ( Securities Act
                         )) by offering and selling unregistered securities in a series of partnerships purportedly organized for the
         purpose of acquiring, raising, and breeding ostriches.  Further, the Complaint alleged that the defendants violated the anti-
         fraud provisions of the federal securities laws (Section 17(a) of the Securities Act and Section 10(b) of the Securities
         Exchange Act of 1934 ( Exchange Act ), and Rule 10b-5 thereunder) by making untrue statements of material facts and by
         omitting to state material facts in connection with the offer and sale of the unregistered ostrich partnership securities. 
         Finally, the Complaint alleged Silver and Larry R. Earp violated the broker registration provision of the federal securities
         laws (Section 15(a) of the Exchange Act) by acting as brokers without being registered as such with the Commission.

                 The Commission further alleged in its Complaint that, beginning in November 1993 and continuing into December 1994,
         the defendants offered and sold to the public investments designated as partnership units in 17 ostrich partnerships. 
         Defendants raised at least $7.45 million through the sale of the ostrich partnership units to approximately 350 investors in
         at least 40 states.

                 The final judgment entered against Silver contains all of the permanent injunctive relief requested in the complaint. 
         Specifically, Silver is enjoined permanently from violating Sections 5(a), 5(c) and 17(a) of the Securities Act, Section 10(b)
         of the Exchange Act, and Rule 10b-5 thereunder, and Section 15(a) of the Exchange Act.  In addition, the final judgment
         requires Silver to disgorge $178,017, pay prejudgment interest thereon in the amount of $16,094.65, and makes him jointly and
         severally liable for defendant Trans-American
                                                      s previously ordered disgorgement obligation of $7,170,000 plus prejudgment
         interest thereon in the amount of $863,342.58.  Finally, the final judgment also bars Silver from acting as an officer or
         director of any public company.

                 The Commission also announced today the institution of administrative proceedings pursuant to Section 15(b)(4) of the
         Exchange Act against Silver to determine what remedial action, if any, is appropriate based upon the entry of the permanent
         injunction against him.

                 The prior releases concerning this matter are Litigation Release Nos. 14835 (March 5, 1996) and 15037 (September 11,
         1996).















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