Marlon D. Tropeano, and David Barroso, Jr., defendants, and Golf Emporium Corporation, Isabel Munoz, and V.M.C. Holdings Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

Litigation Release No. 16522 \ April 19, 2000

SECURITIES AND EXCHANGE COMMISSION v. MARLON D. TROPEANO, and DAVID BARROSO, JR., Defendants, and GOLF EMPORIUM CORPORATION, ISABEL MUNOZ, AND V.M.C. HOLDINGS INC., Relief Defendants. 99 Civ. 10260 (JSR) (S.D.N.Y.)

The Commission announced today that on March 30 and 31, 2000 the United States District Court for the Southern District of New York entered final judgments by default against relief defendants Golf Emporium Corporation ("Golf") and V.M.C. Holdings Inc ("VMC"), respectively. The Final Judgments require Golf and VMC to disgorge $27,856 and $19,349, respectively, which equal the funds and benefits each obtained as a result of defendant Marlon Tropeano's ("Tropeano") alleged fraudulent conduct in violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.

The Final Judgments arise from a Complaint filed by the Commission on October 5, 1999 in which the Commission alleged that from October 1997 through April 1998, while associated with registered broker-dealer Briarwood Investment Counsel, Inc. ("Briarwood"), Tropeano, individually and on one occasion with the assistance of David Barroso, Jr. ("Barroso"), defrauded various Briarwood customers by, among other things, selling securities in their accounts without authorization and misappropriating over $150,000 of the proceeds of those sales.

Golf and VMC each failed to answer, plead, or otherwise respond to the Commission's Complaint. The litigation is pending as to defendants Tropeano and Barroso and as to relief defendant Isabel Munoz.