SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C.

     LITIGATION RELEASE NO. 15560 / November 14, 1997

     SECURITIES AND EXCHANGE COMMISSION v. KENTON CAPITAL, LTD., et al., Civ.
     No. 95-0829 (CKK) (D.D.C., filed May 3, 1995).

          The Securities and Exchange Commission announced that on November 6,
     1997, Judge Colleen Kollar-Kotelly of the United States District Court for
     the District of Columbia entered an Order holding defendant Charles Smith
     in civil contempt.  On July 19, 1996, the Court entered a Final Judgment
     against Smith and his company, Atlantic Pacific Guarantee Corporation,
     requiring them to disgorge $126,584 plus prejudgment interest within ninety
     days.  The Commission alleged that Smith and Atlantic Pacific received
     $126,584 in investor funds which had been fraudulently obtained by Kenton
     Capital, Ltd. and its promoters in connection with prime bank trading
     programs.  The Commission alleged that Kenton and its promoters projected
     to investors annual returns on these trading programs ranging from 34,200%
     to over 1,200,000%.  Smith and Atlantic Pacific failed to pay any money,
     and on July 2, 1997, Smith filed bankruptcy individually and on behalf of
     Atlantic Pacific.

          In its opinion, the Court cited numerous examples where Smith was
     unable to document or account for the transfer of various assets.  The
     Court also noted that Smith submitted false financial statements to the
     Commission.  Thus, the Court held that Smith failed to prove his inability
     to pay the disgorgement.  Within thirty days Smith must identify assets
     sufficient to pay the Judgment, plus post-judgment interest, and provide a
     sworn accounting.     

       


















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