UNITED STATES SECURITIES AND EXCHANGE COMMISSION

   Litigation Release No. 16387 / December 13, 1999

   SECURITIES AND EXCHANGE COMMISSION v. FUTURE VISION DIRECT MARKETING,
   INC., et al., Civil Action No. 96-2107 (NHP) (D.N.J. Dec. 3, 1999)

   The Securities and Exchange Commission ("Commission") today announced
   that, on December 3, 1999, Judge Nicholas H. Politan of the United
   States District Court for the District of New Jersey granted the
   Commission's motion for summary judgment and entered final judgments
   of permanent injunction and other relief against defendants Ronald H.
   Michel, Stephen Regen, William Richard Horne, Daniel Kelly, Joseph
   Glenski, James Barschow, and Frank Cardell. Michel, Regen, Horne, and
   Kelly promoted, and Glenski, Barschow, and Cardell telemarketed, two
   fraudulent schemes to sell to the public unregistered securities in
   companies that purportedly were to develop and operate wireless cable
   television systems in Tennessee and Washington State.

   The Court ordered defendants Michel, Regen, Horne, and Kelly to
   disgorge, jointly and severally, $13,137,813.11, representing their
   unlawful profits from the fraudulent sale of investments in both
   schemes. The Court further ordered Michel, Horne, and Kelly each to
   pay a $500,000 civil penalty, and Regen to pay a $250,000 civil
   penalty. The Court also barred Michel, Horne, and Kelly from serving
   as officers or directors of any public company.

   The Court ordered defendants Glenski and Barschow to disgorge, jointly
   and severally with defendant Bruce Schroeder (against whom the
   Commission obtained a default judgment in July 1999), $4,209,827.23,
   representing their unlawful profits from the frauds and ordered
   Glenski and Barschow each to pay a $500,000 civil penalty. Cardell was
   ordered to disgorge $48,075 in illicit profits and pay a $250,000
   civil penalty.

   The Court permanently enjoined each of the defendants from future
   violations of the antifraud provisions of the Securities Act of 1933,
   Section 17(a), and the Securities Exchange Act of 1934, Section 10(b)
   and Rule 10b-5 thereunder. In addition, the Court enjoined all of the
   defendants except Regen from future violations of the securities
   registration provisions, Securities Act Sections 5(a) and 5(c), and
   the broker-dealer registration provisions, Exchange Act Section 15(c).

   The Commission's action is still pending with respect to three
   corporate defendants, as well as relief defendant Bellette Hoffman.

   The Commission wishes to acknowledge the assistance of the Office of
   the United States Attorney for the District of New Jersey and the