SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     Litigation Release No. 15558 / November 13, 1997

     SECURITIES AND EXCHANGE COMMISSION v. DAVID W. LAING AND PCO, INC., d/b/a
     PERSONAL CHOICE OPPORTUNITIES 97 Civ. 8439 (LMM)(S.D.N.Y.)


          The Commission announced that it filed a Complaint today in federal
     court in Manhattan charging a California-based company and its former
     president with fraudulently obtaining approximately $95 million from
     investors nationwide by promising them substantial profits through the
     company s purchases of viatical settlements (the  Loan Program ).  Viatical
     settlements are financial transactions involving the purchase, at a
     discount, of life insurance policies from terminally ill policy-holders in
     exchange for the policy-holders' death benefits.
      
     Named in the complaint were:

          PCO, Inc. d/b/a Personal Choice Opportunities ("PCO, Inc."), a Nevada
          corporation with its principal place of business in Palm Springs,
          California.  PCO, Inc. was purportedly in the business of purchasing
          viatical settlements; and

          David W. Laing ("Laing"), age 52, of Palm Springs, California.  Laing
          was, at the time of the transactions and events alleged in the
          Complaint, the president and sole shareholder of PCO, Inc. 

          The Complaint alleges that between June 1996 and April 1997, Laing and
     PCO, Inc. solicited investors to invest in the Loan Program by falsely
     representing, among other things, that they would use investor funds to
     purchase viatical settlements, which would yield an annual return of 25
     percent.  Rather than investing in the viatical settlements, however, Laing
     and PCO, Inc. allegedly misappropriated and otherwise misused the
     investors' funds.  The Complaint further alleges that no registration
     statement was filed, or in effect, with respect to the investments in the
     Loan Program.
      
          As a result of the foregoing, the Commission alleges that Laing and
     PCO, Inc. violated Sections 5(a), 5(c) and 17(a) of the Securities Act of
     1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule
     10b-5.  The Commission seeks final judgments permanently enjoining Laing
     and PCO, Inc. from future violations of these provisions, and ordering
     Laing and PCO, Inc. to disgorge their ill-gotten gains, plus prejudgment
     interest thereon.  

          The litigation is pending.  





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