SECURITIES AND EXCHANGE COMMISSION
                                  Washington, D.C.

          Litigation Release No. 15935 / October 9, 1998

          SECURITIES AND EXCHANGE COMMISSION v. MICHAEL G. SARGENT, ET AL.,
          Criminal No. 96-10134-JLT; Civil Action No. 96-10609 (JLT) (D.
          Mass. October 7, 1998)

          TWO CONVICTED OF MAKING FALSE STATEMENTS TO COMMISSION STAFF
          DURING INSIDER TRADING INVESTIGATION

               The jury in the criminal case of United States v. Michael
          Sargent, et al., Crim. No. 96-10134-JLT (D. Mass.), pending in
          the District of Massachusetts, found Michael Sargent and Robert
          Scharn guilty of willfully making false statements in violation
          of 18 U.S.C. ( 1001 to attorneys at the Securities and Exchange
          Commission in connection with an inquiry of possible insider
          trading in the securities of Purolator Products Company.
          Sargent's and Scharn's convictions stem from false statements the
          two men made in telephone interviews with a Commission staff
          attorney during the inquiry into trading in Purolator stock prior
          to a public announcement that Mark IV Industries, Inc. would make
          a tender offer for all Purolator shares.  The jury returned its
          verdict on October 7, 1998.

               The indictment also charged Sargent with violations of
          Section 14(e) and Rule 14e-3 of the Securities and Exchange Act
          of 1934.  The District Judge dismissed this count.

               In March 1996 the Commission filed a civil action against
          Sargent, Scharn and two others alleging that the defendants
          bought Purolator stock while in possession of material, nonpublic
          information about Mark IV's impending take-over.  According to
          the Commission, the defendants' tipping and trading violated
          Sections 10(b) and 14(e) of the Securities Exchange Act of 1934
          and SEC Rules 10b-5 and 14e-3.  The Commission's action is still
          pending.



               See also Litigation Release No. 14854.