UNITED STATES SECURITIES AND EXCHANGE COMMISSION


     LITIGATION RELEASE NO. 15635 / February 5, 1998

     United States of America v. Roger E. Turner, USDC/ND TX (Dallas Division),
     397-CR-427-G

     The Securities and Exchange Commission announced that on January 13, 1998,
     Roger E. Turner, who operated a Grand Prairie, Texas investment adviser,
     Annable Turner & Company, Inc., pled guilty to violating the antifraud
     provisions of the Securities Act of 1933.  It is alleged that, from at
     least January 1990 through January 1997, Turner falsely represented to
     investors that he would invest their funds, at times through newly opened
     IRAs, in safe, solvent investments, upon which investors would receive a
     substantial return. In fact, Turner neither purchased the securities nor
     opened the IRAs.  Instead, he misapplied investor funds, and hid his
     misapplications by providing investors with false portfolio statements.
     Investors are alleged to have suffered losses of between $1.5 and $2.5
     million.

     A sentencing hearing is set for March 24, 1998, before the Honorable A. Joe
     Fish, United States District Court for the Northern District of Texas.
     Turner and the United States Attorney for the Northern District of Texas
     have also agreed to a non-binding stipulation under which the Court can
     impose a term of 24 to 37 months imprisonment. Turner's plea agreement also
     notes that the Court can impose fines, supervised release terms, special
     assessments and restitution.

     The Fort Worth District Office of the Commission assisted the United States
     Attorney with the criminal investigation.



















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