UNITED STATES SECURITIES AND EXCHANGE COMMISSION

       Litigation Release No. 16140/ MAY 11, 1999

      [Securities and Exchange Commission v. Theodore O. Pollard, C-99-
      20421RMW(N.D. Cal.)]


      PALO ALTO MAN SUED FOR FRAUDULENT SALES OF SECURITIES OVER THE INTERNET

           The Securities and Exchange Commission ("Commission") announced that
      on May 10, 1999, it filed a complaint against Theodore O. Pollard
      ("Pollard") of Palo Alto for his offer and sale of securities over his
      Internet Website, the "Winsell Exchange."  This action is part of a
      coordinated action by the Commission to combat the fraudulent offer and
      sale of securities

           The Commission's complaint alleges that Pollard, using the names
      "Winsell Exchange" and "World Investment Network, Ltd." maintained an
      Internet website over which he fraudulently offered and sold so-called
      "prime bank" securities.  The complaint alleges that Pollard solicited
      investments in the "Winsell $35K Lease $1M" program during early 1998.
      Pollard told investors their funds were to be used to "lease" larger
      amounts of money that would in turn be used to purchase "Top Bank"
      investments. Pollard promised investors a $3,000,000 return in 10 months
      in exchange for each $35,000 investment.  Pollard further stated the
      investment was "non-risk."  These representations were baseless, as "prime
      bank" investments do not exist; given this, the returns were unattainable.
      Further, the Complaint alleges by offering the securities in this manner,
      Pollard acted as an unregistered broker.  Pollard's solicitations led to
      at least one individual investing $35,000.

           The Complaint alleges that by these acts, Pollard violated Section
      17(a) of the Securities Act of 1933 and Sections 10(b) and 15(a) of the
      Exchange Act and Rule 10b-5 thereunder, and seeks a permanent injunction,
      disgorgement with interest, an accounting, and a civil penalty.  The
      Commission's complaint is pending.