UNITED STATES SECURITIES AND EXCHANGE COMMISSION


     LITIGATION RELEASE NO. 15541 / October 24, 1997

     UNITED STATES OF AMERICA v. WILLIAM D. BROSSEAU, et al.
     3:96-CR-315, USDC, ND/TX (Dallas Division)
                 
          On October 21, 1997, in United States District Court for the Northern
     District of Texas, the Honorable Joe Kendall sentenced William D. Brosseau
     to the maximum term of 60 months in federal prison for selling interests in
     an oil and gas project through fraudulent means. Brosseau's sentence was to
     begin immediately. The Court also ordered Brosseau to pay $8.2 million in
     restitution and fined him $100,000.
       
          The criminal case against Brosseau was based on the same activities
     alleged in a civil action brought by the Commission on September 20, 1996.
     Brosseau settled the Commission's action against him on October 20, 1997,
     by consenting to the entry of a permanent injunction. The Commission's
     complaint alleged that Brosseau and others told investors that oil and gas
     prospects presented minimal risks, that the wells would produce investment
     returns of more than 40% per annum for periods as long as 25 years, and
     that their entire investment would be returned in less than two years. The
     complaint further alleged that Brosseau took in excess of $1.1 million of
     investors' funds for his own use, and diverted significant amounts of
     investor funds to other entities under his control.



























                              ======END OF PAGE 1======