UNITED STATES SECURITIES AND EXCHANGE COMMISSION

           LITIGATION RELEASE NO.  15830 / August 4, 1998

           SECURITIES AND EXCHANGE COMMISSION v. GARY MOSS , 4:98-MC-0010, USDC,
           ND/TX, Fort Worth

                Judge John McBryde, federal judge for the Northern District of
           Texas, issued a warrant for the arrest of Gary Moss of El Paso, Texas,
           for failing to appear in Court on August 3 as previously ordered.  The
           arrest warrant is the latest development in Moss' continuing failure to
           fully comply with a Securities and Exchange Commission subpoena served
           on Moss on November 11, 1997. The subpoena required Moss to appear and
           testify and produce certain documents and records related to Moss'
           financial dealings and securities sales activities.

                When Moss failed to comply with the Commission's subpoena, the
           Commission filed an application with the Court on May 4, 1998 to
           enforce compliance. On May 13,  Judge McBryde ordered Moss to appear in
           Court on July 17 to provide evidence as to why he should not be
           compelled to comply with the Commission's subpoena. At the hearing on
           July 17,  Judge McBryde ordered Moss to appear at the Commission's
           offices on July 20 to testify and produce all required documents. On
           July 20, Moss appeared for testimony at the Commission's offices, but
           failed to produce all the documents mentioned in the subpoena in
           violation of the Court's order. Upon a second subpoena enforcement
           application by the Commission on July 29, Judge McBryde ordered Moss to
           appear  again in Court on August 3 or be subject to coercive sanctions
           to enforce compliance of the Commission's subpoena.  Moss' failure to
           appear before Judge McBryde as ordered prompted the issuance of the
           arrest warrant.