SECURITIES AND EXCHANGE COMMISSION
   Washington, D.C.

   LITIGATION RELEASE NO. 16647 \ August 9, 2000

   SEC RECOVERS $314,357 IN PENALTIES AND DISGORGEMENT FROM THREE HEALTH
   INSURANCE EXECUTIVES FOR INSIDER TRADING IN EMPLOYEE BENEFIT PLANS,
   INC.

   Securities and Exchange Commission v. Thomas A. Toussaint, Michael C.
   Slagle and Erwin K. Geigle, U.S.D.C. for the District of Minnesota,
   Civil Action No. 98-CV-2406 DSD/JMM

   The SEC today announced the settlement of a complaint for insider
   trading in the securities of Employee Benefit Plans, Inc. ("EBP")
   against Thomas A. Toussaint of Eden Prairie, Minnesota, Michael C.
   Slagle of Fairhope, Alabama and Erwin K. Geigle of Bismarck, North
   Dakota. Under the settlement, the defendants consent to pay $314,357
   in disgorgement, interest and penalties.

   EBP was an underwriter and administrator of health insurance plans,
   headquartered in Minneapolis, Minnesota. The SEC had filed a complaint
   in this matter in November 1998. The complaint alleged that in the
   Spring of 1995, Thomas Toussaint, who was in charge of EBP's
   underwriting department, tipped Michael Slagle, a friend and business
   associate, about pending merger negotiations between EBP and First
   Financial Management Corporation. Slagle then purchased EBP securities
   and in turn tipped Erwin Geigle, a friend and business associate, of
   the pending negotiations. Geigle also purchased EBP securities. In
   addition, Slagle recommended EBP to one other friend and business
   associate who purchased EBP, and Geigle recommended EBP to seven other
   friends and business associates who purchased EBP. The tipping and
   trading violated Section 10(b) of the Securities Exchange Act of 1934
   and Rule 10b-5 thereunder.

   Toussaint, Slagle and Geigle consented, without admitting or denying
   the allegations of the complaint, to the entry of final judgments
   which will permanently enjoin them from violations of Section 10(b) of
   the Exchange Act and Rule 10b-5 thereunder. Pending approval by the
   Court, the defendants also consented to pay $133,294 in disgorgement
   and to pay prejudgment interest on the disgorgement in the amount of
   $71,372.61. In addition, Toussaint consented to pay a civil penalty of
   $41,230 equal to the profits of his tippee Slagle, Slagle consented to
   pay a civil penalty of $41,230 equal to his profits and Geigle
   consented to pay a civil penalty of $27,231 equal to his profits. The
   total payments will be $314,357.61.
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