SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No.  15694 / April 3, 1998

          S.E.C. v. Investors Dynamics Corporation and Steven L. Down (USDC
          UT, Docket No. 2:96CV 0220S)

          On  March  26,  1998, the Honorable David Sam, U.S District Judge
          for the District  of  Utah,  issued  final judgments of permanent
          injunction  against  Investors  Dynamics  Corporation  (IDC)  and
          Steven  L. Down (Down).  The defendants,  who  consented  to  the
          orders without admitting or denying the Commission's allegations,
          were enjoined from violating 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 promulgated  thereunder. The
          court  waived  disgorgement  and  determined not to impose  civil
          penalties based on the demonstrated  inability  of the defendants
          to pay.

          The Commission's complaint alleged that IDC and Down  operated  a
          multilevel  marketing  pyramid  scheme  by  offering  and selling
          independent  consultant  memberships  in  IDC  in an unregistered
          distribution.  The complaint also alleged that IDC  and Down made
          fraudulent  misrepresentations,  and  omitted  to  state material
          facts, to potential and current investors regarding  the purchase
          of a membership in IDC.  The alleged misrepresentations  involved
          the  potential  profit to be expected from an IDC membership  and
          the omission to disclose  the  risk of market saturation inherent
          in IDC's pyramid scheme.

          At the time the complaint was filed  the  Commission alleged that
          IDC was signing up approximately 100 new members each day and
          had  raised  more  than $1 million from the sale  of  independent
          consultant memberships.