UNITED STATES SECURITIES AND EXCHANGE COMMISSION

   LITIGATION RELEASE NO. 16386 / December 10, 1999

   SECURITIES AND EXCHANGE COMMISSION V. TRINITY GAS CORPORATION AND
   SIDNEY W. SERS, Civil Action No.4-97CV-1018Y (N.D. Tex., Fort Worth
   Division)

   The Securities and Exchange Commission announced that on November 23,
   1999, the Honorable Terry Means, United States District Judge for the
   Northern District of Texas, Ft. Worth Division, granted a summary
   judgment against defendant Sidney W. Sers, the former President and
   Chief Executive Officer of Trinity Gas Corporation. The Judgment
   permanently enjoined Sers 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. Sers was also ordered
   to pay disgorgement of $11,607,442, plus prejudgment interest, and a
   civil penalty of $110,000. In partial satisfaction of the disgorgement
   order, the Court directed that approximately $4 million of Sers' funds
   that was previously frozen by the Court, be turned over to the
   reorganized Trinity for the benefit of its shareholders.

   The Court found that between May 1996 and November 1997, in connection
   with the offer, purchase and sale of Trinity stock, Sers knowingly and
   intentionally made material misstatements and omitted to state
   material facts concerning, among other things, Trinity's purported
   ownership and valuation of a Colombian oil and gas concession. The
   Court further found that during the period that Sers was publicly
   disseminating false and misleading information, he directly and
   indirectly sold at least 49 million unregistered Trinity shares to the
   public, including 2.68 million shares in the over-the-counter market.
   Sers was also found to have misappropriated at least $2.8 million in
   Trinity funds.

   Sers remains the subject of a civil contempt order and arrest warrant
   as a result of his violations of the Court's January 7, 1998 asset
   freeze order. Among other things, Sers was found by the Court to have
   transferred approximately $800,000 in stock proceeds to his
   privately-held Cayman corporation the day after the freeze order was
   entered. Sers is a fugitive and presently resides in Cali, Colombia.
     _________________________________________________________________

Modified 12/14/1999