Lewis Allen Rivlin, Edwin Earl Huling III, and Alfred Huascar Velarde

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

Litigation Release No. 16779 / October 25, 2000

SECURITIES AND EXCHANGE COMMISSION v. LEWIS ALLEN RIVLIN, EDWIN EARL HULING III, AND ALFRED HUASCAR VELARDE, AS DEFENDANTS; AND Z-FINANCE, S.A., ANTHONY P. ZIOUDAS, HEDLEY FINANCE LTD., CHRISTIAN DANTE, AND CHRYSANTHOS CHRYSOSTOMOU, AS RELIEF DEFENDANTS, Civil Action No. 99-1455 (RCL) (U.S. District Court for the District of Columbia)

The Securities and Exchange Commission today announced that on October 23, 2000, the Honorable Royce C. Lamberth of the United States District Court for the District of Columbia issued a Preliminary Injunction against Defendant Lewis Allen Rivlin temporarily restraining and enjoining Rivlin from violations of the antifraud provisions of the federal securities laws, specifically Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Preliminary Injunction also prohibits Rivlin "from any involvement in, or conduct facilitating or relating in any way to, any program purporting to involve trading or related activity in bank debentures or other bank instruments." The Preliminary Injunction followed a five-day hearing before Judge Lamberth and a consolidated bench trial on the merits concluding October 20, 2000. (See also Litigation Releases Nos. 16593 (June 15, 2000); 16389 (Dec. 13, 1999) and 16179 (June 8, 1999)).