UNITED STATES SECURITIES AND EXCHANGE COMMISSION

   LITIGATION RELEASE NO. 16341 / October 25, 1999

   On October 20, 1999, Benjamin Franklin Cook of Carefree, Arizona was
   located and arrested by U.S. Marshals in a Las Vegas, Nevada casino. A
   warrant has been issued for Cook's arrest on October 8, 1999, by Judge
   Jerry Buchmeyer of the United States District Court for the Northern
   District of Texas, Dallas Division, after finding that Benjamin
   Franklin Cook was in contempt of the Court.

   On March 16, 1999, the Securities and Exchange Commission filed a
   proceeding against sixteen (16) individuals and entities, including
   Cook and his related company, Dennel Finance Limited. The Commission
   alleges that Cook engaged in a fraudulent scheme to offer and sell
   unregistered "prime bank" securities throughout the United States. The
   Commission further alleges that Cook targeted religious groups and
   persons investing retirement funds, and that he cheated more than 100
   investors nationwide of $30 million in non-existent "prime bank" note
   programs. In connection with the Commission's filing, the Court
   ordered Cook to promptly deliver assets in his control to a court
   appointed receiver, and ordered that Cook refrain in any way from
   disturbing those assets. Despite the Court's Order, Cook failed or
   refused to deliver the assets, which included seven (7) Cashier's
   Checks totaling $694,850.

   Subsequently, on April 2, 1999, the Court entered a Preliminary
   Injunction restraining Cook from making any payment or expenditure of
   funds and from making any false or untrue statements to investors. In
   addition, the Court further ordered Cook to repay those funds obtained
   from investors in his illegal "prime bank" scheme.

   Because of Cook's failure to appear before the Court pursuant to an
   order to show cause, his failure to deliver the assets, and his
   failure to refrain from interfering with the Commission's subpoenas
   directed to other persons, Judge Buchmeyer ordered Cook jailed until
   such time that he complies with the Court's orders, including the
   return of assets. Judge Buchmeyer also ordered that Cook be fined an
   additional $50,000 for each act of interference with the Commission's
   subpoenas directed to other persons. Additionally, the Court ordered
   that all pleadings filed by Cook denying the allegations of the
   Commission be stricken in their entirety.

   Cook is being detained by federal authorities and is expected to be
   transported to Dallas, where he will be incarcerated.
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Modified 10/27/1999