UNITED STATES SECURITIES AND EXCHANGE COMMISSION


     Litigation Release No. 15567 / November 20, 1997

     SECURITIES AND EXCHANGE COMMISSION v. KS RESOURCES, et al., Civil Action
     No. 95-8608 WDK (AJWx)(C.D. Cal.).

          The Securities and Exchange Commission announced that on November 10,
     1997, the Honorable William D. Keller, United States District Judge for the
     Central District of California, approved a settlement between the
     Securities and Exchange Commission and defendant Alexander Lazar Kahan. 
     Kahan, without admitting or denying the Commission's allegations, consented
     to a permanent injunction from future antifraud securities law violations. 
     Kahan also consented to pay disgorgement of $998,210 and prejudgment
     interest of $69,497.45 totalling $1,067,707.45.  Kahan demonstrated through
     sworn statements of his financial condition that he did not possess
     sufficient assets with which to pay the entire judgment.  To satisfy this
     judgment, Kahan has been ordered to turn over the bulk of his assets,
     valued at $272,278, to the Court-appointed Permanent Receiver, Arthur N.
     Greenberg, Esq.

          The Court also approved settlements between the Securities and
     Exchange Commission and Alex Kahan Enterprises, Inc., Pathfinder Minerals
     Group, Inc., and Guardian Industries, Inc. in which these companies agreed
     to pay disgorgement and prejudgment interest.  The Court ordered:

          1.   Alex Kahan Enterprises, Inc. to pay disgorgement of $998,210 and
               prejudgment interest of $69,497.45, totaling $1,067,707.45;  

          2.   Pathfinder Minerals Group, Inc. to pay disgorgement of $1,068,125
               and prejudgment interest of $74,365.08, totaling $1,142,490.08;
               and   

          3.   Guardian Industries, Inc. to pay disgorgement of $350,000 and
               prejudgment interest of $24,367.73, totaling $374,367.73.

          The Commission's complaint, filed December 19, 1995, alleged that
     Kahan and other defendants fraudulently offered securities in the form of
     29 oil and gas limited partnerships from May 1993 to December 19, 1995 and
     variously 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 thereunder.  The complaint further alleged that the scheme raised
     approximately $34,934,000 from investors, many of whom are elderly. 

     See Litigation Release Nos. LR-14766, 14866, 15331, and 15525.  







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