UNITED STATES SECURITIES AND EXCHANGE COMMISSION

   Litigation Release No. 16611 \ June 26, 2000

   TAMARACK FUNDING CORPORATION AND GARRY P. ISAACS PRELIMINARILY
   ENJOINED

   Securities and Exchange Commission v. Tamarack Funding Corp. and Garry
   P. Isaacs, Civil Action No. 00-6730 (S.D. Florida, filed May 31, 2000)

   The Securities and Exchange Commission ("Commission") announced that
   on June 21, 2000, the United States District Court for the Southern
   District of Florida entered a preliminary injunction against Tamarack
   Funding Corporation, a Texas corporation ("TFC of Texas"), Tamarack
   Funding Corporation, a Florida corporation ("TFC of Florida")
   (collectively, "TFC"), and Garry P. Isaacs ("Isaacs"), their
   president, for fraud and for selling unregistered securities. TFC and
   Isaacs, without admitting or denying the SEC's allegations, consented
   to the Court Order that preliminarily enjoins them from violating
   Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and
   Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
   thereunder.

   On May 31, 2000, the Commission filed a complaint ("Complaint") with
   the United States District Court for the Southern District of Florida
   alleging that the defendants fraudulently raised approximately $4.7
   million from at least 125 investors nationwide by offering and selling
   unregistered securities in the form of interest-bearing "promissory
   notes." Specifically, the complaint alleges that from July 1995 to
   February 2000, TFC and Isaacs knowingly or recklessly made material
   false and misleading representations in the offer and sale of
   "promissory notes" to the investing public. According to the
   complaint, investors in the offering were told that their funds would
   be used to purchase retail automobile installment loan contracts
   ("vehicle loans") and that their investment would be 100%
   collateralized.

   Contrary to these representations, the complaint alleges that
   investments were not fully collateralized, as only $1.4 million was
   actually used by TFC to purchase vehicle loans. According to the SEC,
   the remaining investor funds were used to pay TFC's operating costs
   and unrelated expenses. The Complaint further alleges that TFC used
   some of the monies received from new investors to repay interest to
   existing investors and was thereby engaged in a Ponzi scheme.

   As a result, the Commission charges TFC of Texas, TFC of Florida, and
   Isaacs with violations of the antifraud and securities registration
   requirements of the federal securities laws, Sections 5(a), 5(c), and