UNITED STATES SECURITIES AND EXCHANGE COMMISSION

   Litigation Release No. 16620 / July 6, 2000
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   SEC v. Aziz Golshani, et al., Civ. Action No. 99-13139 (CBM)(AJWx)
   (C.D. Cal.)

       SEC Files New and Expanded Charges Against Two Defendants in
               NEI Webworld Internet Stock Manipulation Case;
                   Both Plead Guilty to Criminal Charges

   The Securities and Exchange Commission today filed an amended
   complaint against two Southern California residents previously charged
   in the NEI Webworld Internet stock manipulation case, detailing new
   and expanded civil fraud charges for manipulating the prices of other
   thinly-traded stocks by spreading false information on Internet
   message boards. The SEC charges that defendants Arash Aziz-Golshani,
   23, of Beverly Hills, and Hootan Melamed, 24, of Pomona, carried out
   an Internet fraud scheme relating to the securities of several
   issuers, in addition to the securities of NEI Webworld, Inc., the
   subject of the SEC's original complaint filed in December 1999. In
   related criminal proceedings, the United States Attorney's Office for
   the Central District of California announced today that Aziz-Golshani
   and Melamed have pled guilty to charges based on the same conduct
   alleged in the SEC's original complaint.

   The SEC's new charges are detailed in an amended complaint filed today
   in the United States District Court for the Central District of
   California in the case captioned SEC v. Aziz-Golshani, et al., Case
   No. 99-13139 CBM (AJWx). The original complaint charged Aziz-Golshani,
   Melamed, and a third defendant, Allen Derzakharian, with stock price
   manipulation in violation of federal securities laws. The charges were
   based on their dissemination of fraudulent statements on the Internet
   in November 1999 that NEI Webworld, Inc. would be acquired by another
   company, and trading to profit from that false information. Since the
   original complaint was filed, the SEC learned of new evidence showing
   that Aziz-Golshani and Melamed engaged in similar fraudulent conduct
   with respect to the securities of eleven other issuers during the time
   period April 1999 to October 1999. The amended complaint continues to
   charge a third defendant, Allen Derzakharian, with federal securities
   fraud relating to the securities of NEI Webworld, Inc.

   In particular, the Commission's amended complaint alleges the
   following
     * With regard to each issuer, as with the NEI Webworld fraud,
       Aziz-Golshani and Melamed (a) purchased shares of the issuer at
       low prices; (b) disseminated materially false and misleading