FOR IMMEDIATE RELEASE 99-107 Leo Orenstein, Assistant Chief Litigation Counsel, To Leave SEC Washington, DC, September 1, 1999 -- The Securities and Exchange Commission today announced that Leo F. Orenstein, Assistant Chief Litigation Counsel in the Division of Enforcement, will leave the Commission this week to join the Washington law firm of Freedman, Levy, Kroll & Simonds as counsel. In a nearly fourteen year career at the SEC, Mr. Orenstein investigated and litigated some of the Commission's most significant enforcement actions. Among many others, he commenced and supervised the Commission's investigation of Crazy Eddie, participated in its investigation of Drexel Burnham Lambert, prosecuted administrative proceedings arising out of the Princeton- Newport criminal convictions, and litigated landmark enforcement actions against Victor Posner and First City Financial Corp. Chief Litigation Counsel Christian J. Mixter said, "Leo has been an able and articulate advocate for the Division of Enforcement and for the Commission. He leaves behind a solid record of important enforcement cases. We wish him well in his new position." Before coming to the Commission, Mr. Orenstein, 44, practiced law in San Francisco. He was graduated magna cum laude from Yale College in 1977 and received his JD from Harvard Law School in 1980. # # #