UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     LITIGATION RELEASE No. 15589 / December 11, 1997 

     SECURITIES AND EXCHANGE COMMISSION V. RAEJEAN S. BONHAM, WORLD PLUS, INC
     AND ATLANTIC PACIFIC FUNDING CORPORATION, No. F96-0023-CV (HRH) (D. Alaska)

          The Securities and Exchange Commission ("Commission") announced today
     that on November 26, 1997, U.S. District Court Judge H. Russel Holland
     issued a Final Judgment against defendants Raejean S. Bonham ("Bonham"),
     World Plus, Inc. ("World Plus") and Atlantic Pacific Funding Corporation
     ("Atlantic").  

          In the Final Judgment, the Court permanently enjoined the defendants
     from violating the anti-fraud and registration provisions of the federal
     securities laws and ordered the defendants to disgorge $2,492,000 in ill-
     gotten gains, plus prejudgment interest.  Because Bonham is currently in
     Chapter 7 bankruptcy, the disgorgement award against defendants will be
     carried out in accordance with the U.S. Bankruptcy Code and the proceeding
     In re: Raejean S. Bonham, aka Jean Bonham, aka Jeannie Bonham, dba World
     Plus, Case No. F95-00897-HAR, filed in the United States Bankruptcy Court
     for the district of Alaska.

          As stated in the Final Judgment, between 1988 and 1995, Bonham
     operated a fraudulent "Ponzi" scheme, based in Fairbanks, Alaska, through
     which she raised more than $42 million from at least 1,192 investors across
     the United States.  Selling short-term, high interest World Plus and
     Atlantic "contracts" to the investing public, Bonham misrepresented to
     investors that investor funds would be used to purchase large blocks of
     frequent flyer miles from multinational corporations.  In fact, Bonham's
     "investment program" was a Ponzi scheme: Bonham used investor funds
     primarily to pay other investors when their "contracts" became due, not to
     purchase blocks of airline miles or tickets.  The Final Judgment enjoins
     defendants from further violations of Sections 5(a), 5(c) and 17(a) of the
     Securities Act of 1933 and Sections 10(b) and 15(b) of the Exchange Act of
     1934 and Rule 10b-5 thereunder.

          On October 24, 1997, Bonham was indicted on multiple counts of mail
     fraud, money laundering and violation of monetary transactions relating to
     her fraudulent "investment program."  This criminal action is pending
     before U.S. District Court Judge H. Russel Holland.












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