SECURITIES AND EXCHANGE COMMISSION
                                           Washington, D.C.

               Litigation  Release No.  15840 / August 11, 1998

               Securities and Exchange Commission v. Cosmas Anastassiou, Othon
               Anastassiou and Richard Panzer, 98 CIV.5680 (S.D.N.Y)

               The Commission filed a complaint today in the U.S. District Court for
               the Southern District of New York alleging that Cosmas Anastassiou,
               Othon Anastassiou, and Richard Panzer engaged in illegal insider trading
               in the securities of Vivra, Inc., prior to the public announcement in
               May 1997 that Incentive AB planned to make a tender offer for Vivra.
               Vivra was a major provider of dialysis services in the United States.
               Incentive AB is a Swedish investment company.

               The complaint alleges that on March 29, 1997, Cosmas Anastassiou, a
               Greek citizen then residing in London, England, learned of the proposed
               tender offer by surreptitiously reading confidential documents
               concerning the transaction.  The confidential documents were in the
               custody of a friend who was working on the deal as an employee of Morgan
               Stanley & Co., Inc., Incentive's investment banking firm.

               According to the complaint, Cosmas Anastassiou purchased Vivra stock and
               options prior to the announcement and tipped his father, defendant Othon
               Anastassiou, who also purchased Vivra stock and options before the
               announcement.  The complaint alleges that Othon Anastassiou tipped his
               friend, Richard Panzer of Boca Raton, Florida, who purchased Vivra
               options before the announcement.

               The complaint alleges that after the tender offer was announced publicly
               on May 5, 1997, the market price of Vivra rose, resulting in illegal
               profits of $121,557 for Cosmas Anastassiou, $189,634 for Othon
               Anastassiou, and $104,496 for Panzer.  According to the complaint,
               Cosmas Anastassiou rescinded most of his options purchases after he
               learned of the Commission's investigation.

                Without admitting or denying the substantive allegations in the
               complaint, the defendants consented to the entry of orders permanently
               enjoining them from violating Sections 10(b) and 14(e) of the Exchange
               Act and Rules 10b-5 and 14e-3, and ordering Cosmas Anastassiou to
               disgorge $62,045 plus prejudgment interest, Othon Anastassiou to
               disgorge $189,634 plus prejudgment interest, and Panzer to disgorge
               $104,496 plus prejudgment interest.  Under the terms of his consent,
               Panzer was ordered to pay a penalty of $26,124, an amount equal to one
               quarter of his illegal profits.  In assessing the penalty, the
               Commission considered Panzer's cooperation in the investigation

               The Commission wishes to acknowledge the assistance of the NYSE in this
               matter.