U.S. SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No.   15867 / September 2, 1998

          U. S. SECURITIES AND EXCHANGE COMMISSION v. CHIMNEYVILLE
          INVESTMENTS GROUP, INCORPORATED AND JOSEPH RANDOLPH BELEW
          Civil Action No. 3: 98 CV 574 WS (U.S.D.C. S.D. MISS.)

          SECURITIES REGULATORS HALT THEFT OF CUSTOMER MONEY

          Joe  R. Belew withdrew at least $220,000 from the accounts of his
          customers  at  Chimneyville  Investments  Group, Incorporated, of
          Jackson, Mississippi, without the knowledge  or  authorization of
          the effected customers.  These funds were traced directly  to one
          of  Belew's  personal  checking accounts.  Chimneyville and Belew
          consented  Tuesday  to an  order  issued  by  the  federal  court
          preliminarily  enjoining   them  from  committing  future  fraud,
          freezing the company's and Belew's  assets,  and  prohibiting the
          destruction  of  documents  as  the  result  of a civil complaint
          brought by the SEC.  The SEC asked the court to  order  repayment
          of all the customer funds, based upon a thorough accounting to be
          conducted,  and  to  impose  civil penalties against each of  the
          defendants.

          More  particularly,  the SEC's Complaint,  filed  in  the  United
          States District Court for the Southern District of Mississippi on
          September  1,  1998,  sought   a   temporary  restraining  order,
          preliminary  and  permanent  injunctions   against   Chimneyville
          Investments Group, Incorporated, a registered broker-dealer  with
          its principal office located in Jackson, Mississippi, and one  of
          its managing principals, Joseph Randolph Belew.  In addition, the
          Complaint  sought  an order providing for expedited discovery and
          prohibiting  the  destruction,   alteration,  or  concealment  of
          documents;  providing  for  an  accounting,  disgorgement,  civil
          penalties,  and  prejudgment interest  against  Chimneyville  and
          Belew; and freezing  both  Chimneyville's and Belew's assets.  In
          its Complaint, the Commission  alleged that Chimneyville violated
          Sections 10(b), 15(c) and 17(a)(1) of the Securities Exchange Act
          of 1934 ("Exchange Act") and Rules  10b-5, 15c3-1, 15c3-3, 17a-3,
          and 17a-4 thereunder and that Belew violated Section 10(b) of the
          Exchange  Act and Rule 10b-5 thereunder  and  aided  and  abetted
          Chimneyville's  violations  of Sections 15(c) and 17(a)(1) of the
          Exchange  Act  and  Rules  15c3-1,   15c3-3,   17a-3   and  17a-4
          thereunder.

          The  Commission's  Complaint  alleges,  among other things,  that
          Chimneyville, as an introducing broker-dealer, failed to maintain
          $5,000 in net capital as required by Rule  15c3-1.   In addition,