SECURITIES AND EXCHANGE COMMISSION

          Litigation Release 16087 \ March 12, 1999

          SEC  v.  Cihaco  International, Inc., Hartmut Haussecker, Bartley
          Carson Healy and Tanya  Llanes-Tarver,  Civil  Action No. 2:97CV-
          0659k (USDC UT).

               The Commission announced that on August 27, 1997, it filed a
          complaint  seeking preliminary and permanent injunctions  against
          Cihaco International,  Inc.,  a  defunct  California corporation,
          Hartmut  Haussecker,  currently  a resident of  Germany,  Bartley
          Carson  Healy of Corona Del Mar, California,  and  Tanya  Llanes-
          Tarver of  Los  Angeles,  California, alleging the defendants had
          violated Sections 5(a), 5(c)  and 17(a) of the Securities Act and
          Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.  The
          complaint  also  sought  an  immediate   asset   freeze   against
          Haussecker,  Cihaco  and  two  entities controlled by Haussecker,
          Bancroft  Properties,  Ltd.  and Windsor-Brentwood  International
          Trust Company.

               The complaint alleged that from January 1993 through January
          1997 Cihaco, Haussecker, Healy  and Llanes-Tarver raised at least
          $18  million  through  the  fraudulent   sale   of   unregistered
          securities  from  over  500  investors  in  a  number  of  states
          including  Utah,  Idaho,  Oregon,  Missouri  and California.  The
          securities  involved  were interests in investment  pools  to  be
          managed by Haussecker,  who  was  to invest in stocks, currencies
          and other financial instruments with  projected  returns  of from
          17%  to  60%  per month.  It is alleged that instead of investing
          the  funds, the  vast  majority  of  such  funds  were  spent  by
          Haussecker  to  support  his lavish lifestyle, including at least
          nine expensive sports cars,  a  boat, and large homes in Missouri
          and California.  It is also alleged that Haussecker used investor
          funds  to  purchase  items such as automobiles  and  jewelry  for
          certain individuals who  have  been named as relief defendants in
          the complaint.

               On August 27, 1997, the Honorable  J.  Thomas Greene, United
          States District Judge for the District of Utah,  issued  an order
          freezing  the assets of Haussecker, Cihaco, Bancroft and Windsor-
          Brentwood.   Judge  Greene also scheduled a court date of October
          6, 1997, for a hearing on the Commission's motion for preliminary
          injunction.