UNITED STATES SECURITIES AND EXCHANGE COMMISSION


     Litigation Release No. 15502 / September 18, 1997

     SEC v. Omni International Trading, Inc., et al.,  (U.S.D.C. D. Minn., Civil
     Action No. 97-2116 DSD/JMM, filed September 18, 1997)

          The Securities and Exchange Commission ("Commission") announced that
     on September 18, 1997, the Commission filed a Complaint in the United
     States District Court for the District of Minnesota against Omni
     International Trading, Inc. ("Omni"), a Minnesota corporation, Daniel J.
     Bubalo ("Bubalo"), John C. Hetherington ("Hetherington"), Michael A. Wilcox
     ("Wilcox"), Daniel L. Koehler ("Koehler"), Brian E. Farley ("Farley") and
     Scott A. Rude ("Rude") for their violations of Sections 5(a), 5(c) and
     17(a) of the Securities Act of 1933, Sections 10(b), 15(a) and 15(c) of the
     Securities Exchange Act of 1934 and Rules 10b-5 and 15c1-2 promulgated
     thereunder.  The Complaint seeks, among other things, permanent
     injunctions, an accounting, disgorgement and civil penalties.

          The Commission's Complaint alleges that from in or about January 1991
     through in or about February 1995, Omni and others engaged in three
     separate fraudulent offerings.  From these offerings, Omni raised
     approximately $4 million.  The securities underlying the offerings were not
     registered with the Commission.   
          The Commission's Complaint also alleges that, in the first part of the
     fraud, from in or about January 1991 to in or about March 1993, Omni,
     Bubalo, Koehler and others offered and sold approximately $1.3 million of
     unregistered convertible debentures to approximately 100 investors in
     Florida, Michigan and several other states.  While offering and selling
     these debentures, Omni, Bubalo and Koehler misrepresented and omitted to
     state material facts regarding, among other things, Omni's revenues, sales
     to the Ukraine, the use of proceeds to acquire a tire company, the listing
     of the common stock on NASDAQ at an opening price of $5 per share and the
     commissions earned on the debenture sales.

          The Commission's Complaint further alleges that from on or about March
     31, 1993 and continuing to the present, as a second part of the fraud,
     Omni, Bubalo, Hetherington, Wilcox, Koehler and others made, and have
     continued to make, false and misleading statements to investors regarding a
     purported, upcoming tender offer.  Specifically, Omni, Bubalo,
     Hetherington, Wilcox and Koehler informed investors that the company would
     buy back its common stock at an approximate 200% to 300% profit to
     investors.  Following these fraudulent statements, between in or about
     March and in or about December 1993, Omni, Bubalo and Koehler offered and
     sold newly issued shares of common stock and raised approximately $500,000
     from approximately 46 investors located in several states.  These investors
     were told that if they bought stock at prices around $0.75 per share they
     were guaranteed a profit based on a

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     tender offer price of at least $2.50 per share.  The majority of Omni
     investors tendered their shares to Omni.

          In addition, the Commission's Complaint alleges that as a third part
     of the fraud, between in or about March 1994 and in or about February 1995,
     after Omni investors had tendered their shares, Omni, Bubalo, Farley, Rude
     and others sold previously tendered Omni shares to new investors.  In this
     secondary market, Omni raised approximately $2.2 million from approximately
     122 investors in several states.  In connection with the offer and sale of
     these securities, Omni, Bubalo, Wilcox, Farley, Rude and others 
     misrepresented and omitted to state material facts concerning, among other
     things, the purported tender offer, the expected profit to be made on the
     tender offer and commissions earned upon the sale of the previously
     tendered shares.  To date, no tender offer payout has been made to any Omni
     shareholder.  

          Finally, the Commission's Complaint alleges that throughout the course
     of the fraud, Omni, Bubalo, Hetherington and Wilcox made misrepresentations
     and omitted to state material facts in press releases and newspaper
     articles regarding Omni's revenues, sales to the Ukraine and the listing of
     Omni common stock on NASDAQ.
































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