SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C.

          Litigation Release No.  15998 / December 11, 1998

          Securities and Exchange Commission v. Safetech Industries, Inc.
          Civil No. 98-CV-02226 (D.D.C.) (filed September 18, 1998)

               On September 18, 1998, the Commission filed a civil action
          in the United States District Court for the District of Columbia
          against Safetech Industries, Inc. ("Safetech") to compel Safetech
          to file its delinquent periodic reports and to enjoin Safetech
          from future violations of Section 13(a) of the Securities
          Exchange Act of 1934 ("Exchange Act") and Rules 12b-25, 13a-1 and
          13a-13, thereunder.  On December 2, 1998, the District Court
          entered a final judgment by default (i) enjoining Safetech from
          violating Section 13(a) of the Exchange Act and the rules
          thereunder; and (ii) compelling Safetech to file its Annual
          Report on Form 10-K for the fiscal year ended March 31, 1998, and
          its Quarterly Reports on Form 10-Q for the fiscal quarters ended
          December 31, 1997 and June 30, 1998.