U.S. SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C.

             LITIGATION RELEASE NO. 16090 / March 18, 1999

             Securities and Exchange Commission v. Marisa Baridis, et
             al., 98 Civ. 8535 (JSM) (S.D.N.Y.)
             Securities and Exchange Commission v. Howard Boyar, 99 Civ.
             2008 (JSM) (S.D.N.Y.)

                         BROKERS SETTLE INSIDER TRADING CASE

                  The Securities and Exchange Commission today announced
             that Jeffrey L. Streich, the remaining defendant in the
             Commission’s insider trading case filed on December 3, 1998,
             has settled the Commission’s charges against him.  The
             Commission’s Complaint in that matter alleged insider
             trading by Streich and others in advance of public
             announcements concerning the securities of thirteen publicly
             traded companies.  The Complaint alleged that Streich
             received tips concerning these companies from Marisa
             Baridis, a former employee in the compliance departments of
             two Wall Street investment firms who had access to material
             nonpublic information concerning the firms’ clients.  The
             Complaint also alleged that Streich tipped at least ten
             other persons, and that he engaged in a free-riding scheme
             whereby he purchased stock without paying for it and without
             enough cash to buy it on margin.  See SEC v. Marisa Baridis
             et al., 98 Civil No. 8535 (JSM)(S.D.N.Y.).

                  Streich consented, without admitting or denying the
             Commission’s allegations, to the entry of a Final Judgment
             permanently enjoining him from violating Sections 7(f),
             10(b) and 14(e) of the Securities Exchange Act of 1934
             ("Exchange Act"), Rules 10b-5 and 14e-3 thereunder, and
             Regulation X of the Federal Reserve Board Regulations, and
             ordering him to disgorge his and his tippees’ trading
             profits of $1,039,970, plus prejudgment interest.  Based on
             his demonstrated inability to pay, disgorgement was waived.
             As an additional part of the settlement, Streich consented
             to the entry of a Commission Order barring him from
             association with any broker, dealer, municipal securities
             dealer, investment adviser or investment company.  The
             Order, which the Commission entered today, is based on
             Streich’s earlier criminal conviction in New York State
             Supreme Court of two felony counts relating to his theft of
             securities from a brokerage customer and his possession of a
             forged margin account agreement with knowledge that it was
             forged and with the intent to defraud.