Securities and Exchange Commission

   Litigation Release No. 16330 / October 7, 1999

Federal Judge Permanently Enjoins International Heritage, Inc.,
International Heritage, Incorporated, and Stanley H. Van Etten

   . Civil Action No. 1 98-0803-CV-RWS (NDGA September 20, 1999)

   The Securities and Exchange Commission announced today that the
   Honorable Richard W. Story, United States District Judge for the
   Northern District of Georgia, entered a Consent Final Judgment of
   Permanent Injunction as to Defendants International Heritage,
   Inc.("IHI"), International Heritage, Incorporated ("IHI
   Incorporated"), and Stanley H. Van Etten ("Van Etten"). IHI was
   enjoined from further violations of Sections 5(a) , 5(c) and 17(a) of
   the Securities Act of 1933 ("Securities Act"), and Section 10(b) of
   the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5
   thereunder; IHI Incorporated was enjoined from further violations of
   Section 10(b) and 15(d) of the Exchange Act and Rules 10b-5 and 15d-11
   thereunder; and Van Etten was enjoined from further violations of
   Sections 5(a), 5(c), and 17(a) of the Securities Act , and Sections
   10(b) and 15(d) of the Exchange Act and Rules 10b-5 and 15d-1
   thereunder.

   The Court ordered disgorgement against IHI in the amount of
   $6,533,179, of which $4.1 million may be satisfied from a posted
   surety bond. The Court ordered disgorgement against Van Etten in the
   amount of $7,630,450, but due to a demonstrated inability to pay, the
   Court ordered Van Etten to pay $150,000, required Van Etten to waive
   certain claims against the bankruptcy

   estate of IHI, and waived payment of the remaining disgorgement,
   pre-judgment and post-judgment interest. IHI, IHI Incorporated, and
   Van Etten consented to the entries of the judgments without admitting
   or denying any of the allegations of the Commission's complaints. The
   Court made specific provisions for the distributions of disgorgement
   funds. The Court did not impose civil penalties against IHI, IHI
   Incorporated, or Van Etten based upon their demonstrated inability to
   pay.

   The Commission's complaint, filed on March 16, 1998, alleged that
   beginning in April, 1995, IHI , a North Carolina corporation, through
   Van Etten and others, solicited individuals throughout the United
   States to invest in a pyramid scheme through misleading promotional
   materials, meetings, videotapes, internet web pages, and national
   conference calls to increase investor interest. IHI raised more than
   $150 million from over 155,000 investors. The complaint alleged that