SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C.

    Litigation Release No.  16070 / February 25, 1999

    SECURITIES AND EXCHANGE COMMISSION v. GÖRAN HEDÉN AND CERTAIN UNKNOWN
    PURCHASERS OF COMMON STOCK OF PINKERTON’S, INC., Civil Action No. 99
    Civ. 1418 (S.D.N.Y.)(filed February 24, 1999)

    SEC OBTAINS FREEZE OF OVER $425,000 IN CONNECTION WITH ALLEGED FOREIGN
    INSIDER TRADING IN PINKERTON’S, INC.

          On February 24, 1999, the Commission filed a civil complaint in
    the United States District Court for the Southern District of New York
    against Göran Hedén, a Swedish stockbroker with the firm of Den Norske
    Bank, and certain unknown purchasers who were clients of that firm, in
    connection the purchase on Friday, February 19, 1999, and the sale on
    Monday, February 22, 1999, of common stock of Pinkerton’s, Inc.
    Pinkerton is a California based company specializing in security and
    protection services and products.  The complaint alleges that the
    defendants engaged in insider trading prior to the February 22, 1999
    public announcement that Pinkerton would be acquired by Securitas AB, a
    Swedish security and protection firm, in a cash tender offer.  The
    complaint alleges that the defendants violated Sections 10(b) and 14(e)
    of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3
    thereunder.  The Commission is seeking injunctive relief, disgorgement,
    and civil penalties.

          The complaint alleges that on Friday, February 19, 1999, the
    defendants purchased a total of 15,000 shares of the common stock of
    Pinkerton (defendant Hedén purchased 10,000 shares and the other
    defendants purchased a total of 5,000 shares) at a cost of approximately
    $17 per share.  On the morning of the next trading day, Monday, February
    22, 1999, Pinkerton and Securitas jointly announced Securitas plans to
    acquire Pinkerton through a $29 per share cash tender offer.
    Pinkerton’s stock rose to $28.68 that day.  Defendants sold their entire
    Pinkerton holdings that day.

          Simultaneously with the filing of the complaint, the Commission
    applied for a court order temporarily freezing the assets in the
    defendants’ accounts attributable to the trading in Pinkerton common
    stock.  Federal District Judge Shira Scheindlin issued an order freezing
    over $425,000 of sales proceeds, including approximately $175,000 in
    allegedly illicit profits.

          The Commission wishes to acknowledge the assistance of the New
    York Stock Exchange and the Swedish securities regulator,
    Finansinspektionen.  The Commission’s investigation in this matter is
    continuing.