UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release  15500 / September 18, 1997                  

     SECURITIES AND EXCHANGE COMMISSION V. CLUB ATLANTA TRAVEL, INC., DAVID L.
     STRAUB, FRANK GARNER, and FRED GARNER, Civil Action File No. 1:97-CV-2774-
     RCF (N.D. Ga.)                                                       
          The Securities and Exchange Commission announced that a complaint was
     filed by the Commission on September 18, 1997, in the United States
     District Court for the Northern District of Georgia, against Club Atlanta
     Travel, Inc. ("CAT"), a Georgia corporation; David L. Straub ("Straub"),
     CAT's founder, president, chief executive officer and chairman; Frank
     Garner, CAT's vice president and director; and Fred Garner, CAT's secretary
     and director. 

          The Commission's complaint alleges that, from at least November 1995,
     the defendants raised over $32,000,000 from approximately 24,000 investors
     across the United States and Canada by selling unregistered securities in
     the form of investment contracts using an instrument called a "CAT Pass." 
     CAT paid out as commissions approximately $28,000,000, including
     commissions paid to the defendants.   CAT, Straub, and the Garners sold the
     securities to investors through false and misleading representations and
     omissions of material facts concerning, among other things: (a) the
     expected return on investment, (b) the financial stability and wherewithal
     of CAT, (c) the escrowing of investors' funds, (d) challenges to CAT by
     various states' Attorney General offices, and (e) Straub's background.

          The complaint seeks permanent injunctions enjoining CAT, Straub, and
     the Garners from further violations of Section 5(a),  Section 5(c), and
     Section 17(a) of the Securities Act of 1933, and Section 10(b) of the
     Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  The Commission
     further seeks disgorgement of all ill-gotten gains received by each
     defendant along with prejudgment interest; the imposition of civil
     penalties against Straub and the Garners; and sworn accountings of all
     funds received by the defendants from the sales of CAT securities.   

          Without admitting or denying the allegations made against them in the
     Commission's complaint, CAT, Straub, Frank Garner and Fred Garner have each
     consented to final judgments, entered on September 18, 1997, which
     permanently enjoin them from violating Section 5(a), 5(c) and 17(a) of the
     Securities Act and Section 10(b) of the Securities Exchange Act and Rule
     10b-5. The defendants are further ordered to pay disgorgement with
     prejudgment interest and civil penalties (as to Straub and the Garners) in
     amounts to be determined at a later date.  The final judgment against CAT
     also orders: (a) an accounting of, inter alia, all funds received by CAT
     since November 1, 1995, and (b) the appointment of a Receiver for CAT.  
             






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