U.S. SECURITIES AND EXCHANGE COMMISSION

   LITIGATION RELEASE NO. 16684/ September 6, 2000

   SECURITIES AND EXCHANGE COMMISSION v. CHRISTOPHER P. HASTINGS D/B/A/
   STOCKPICKS1, Civ. No. 00-2397-GTV (USDC D. Kansas)

   The Securities and Exchange Commission announced today that it filed a
   federal court action against Kansas resident Christopher P. Hastings
   ("Hastings"), a school bus mechanic with no experience in the
   securities industry. The Commission's complaint alleges that between
   September 1999 and early January 2000, Hastings, using the name
   "Stockpicks1," touted the stock of ten issuers through a free e-mail
   newsletter, on an Internet website he maintained, and in messages he
   posted on various Internet message boards. According to the complaint,
   Hastings, who coordinated his stock recommendations with other touters
   against whom the Commission obtained a preliminary injunction in April
   2000, included data on his website indicating that a growing number of
   his past stock picks (eventually reaching six) had achieved high
   prices significantly exceeding the pre-tout prices listed,
   representing an average increase of 410%. The complaint alleges that
   this information was false and misleading because it did not disclose
   that (1) the pre-tout and post tout prices represented intraday lows
   and highs measured during arbitrarily varying periods; (2) on average,
   the listed stocks declined to below their pre-tout prices within two
   weeks; and (3) the prices of four additional stocks not listed on the
   website experienced both short-term and long-term price declines.
   Further, according to the complaint Hastings also misrepresented his
   trading intentions in Internet message board postings and e-mail
   messages. Moreover, the complaint alleges that in two instances,
   Hastings sold his personal holdings of the touted stocks into the
   resulting inflated market for total profits of approximately $70,309.
   This action is part of the fourth nationwide Internet fraud sweep
   conducted by the Commission since October 1998.

   The Commission's complaint alleges that Hastings violated Section
   10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
   thereunder. The Commission seeks disgorgement and a permanent
   injunction. Without admitting or denying the Commission's allegations,
   Hastings has consented to the entry of an order that would enjoin him
   from future violations of the foregoing provisions and disgorge
   $70,309 plus prejudgment interest, but would waive payment of
   disgorgement of all but $22,312 and would not impose a civil penalty
   based on his demonstrated inability to pay.

   For tips on how to avoid Internet "pump-and-dump" stock manipulation
   schemes, visit . For more information about Internet fraud, visit . To
   report suspicious activity involving possible Internet fraud, visit .