U.S. Securities & Exchange Commission
   Washington, D.C.

   Litigation Release No. 16639 / July 31, 2000

   Securities and Exchange Commission v. Ramon R. Obod, Civil Action No.
   1 99CV01220 (LFO)(D.D.C.)

   United States v. Ramon R. Obod, Criminal No. 00-396 (E.D. Pa.)

   Ramon R. Obod Pleads Guilty to Making a False Statement in SEC
   Investigation

   The Securities and Exchange Commission ("Commission") announced that
   on July 27, 2000, Ramon R. Obod pleaded guilty to a one-count criminal
   information filed by the U.S. Attorney's office for the Eastern
   District of Pennsylvania alleging that Obod made false statements to
   federal officials in violation of 18 U.S.C. §1001. The criminal action
   arose out of statements Obod made to Commission lawyers in 1996 during
   a telephone interview conducted as part of an investigation of
   possible insider trading in the securities of Texas insurer Transport
   Holdings, Inc. ("Transport") before the September, 26, 1996 public
   announcement that Transport would be acquired by Indiana-based insurer
   Conseco, Inc. ("Conseco"). Obod was interviewed about his September
   23, 1996 purchase of 500 shares of Transport. The criminal information
   alleged that Obod knowingly and willfully made a false statement when,
   asked about the reasons for his purchase, he failed to disclose that
   he had been informed of Conseco's forthcoming acquisition of Transport
   by a representative of his client, American Travelers.

   The Commission previously filed a civil action against Obod. The
   Complaint alleged that Obod, a partner in a Philadelphia-based law
   firm, who was at the time the head of his firm's Corporate Department,
   was outside counsel to and board member of American Travelers
   Corporation, which had agreed to be acquired by Conseco in August,
   1996. The Complaint further alleged that on Saturday, September 21,
   1996, Conseco's CEO told American Travelers President in confidence
   that Conseco was also going to acquire Transport. The Complaint
   alleged that American Travelers' President immediately told Obod in
   confidence of his conversation with Conseco's CEO. The following
   Monday, September 23, 1996, Obod purchased 500 shares of Transport's
   stock. Obod sold his Transport stock after the public announcement of
   the acquisition for a profit of approximately $9,499.92. Obod settled
   the Commission's case without admitting or denying the Commission's
   allegations by consenting to the entry of an order enjoining him from
   violating Section 10(b) of the Securities Exchange Act of 1934 and
   Rule 10b-5 thereunder, requiring him to disgorge $11,460.62,
   representing his trading profits and prejudgment interest, and