UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release 15478 / September 8, 1997

     SECURITIES AND EXCHANGE COMMISSION V. DONALD R. MOORE, INDIVIDUALLY
AND
     D/B/A INTERNATIONAL SOCIETY OF INVESTORS, ET AL., Civil Action No.
     5:93CV97-V (W.D.N.C.)

          The Commission announced that on August 26, 1997, the Honorable
     Richard L. Voorhees, United States District Judge for the Western
District
     of North Carolina, entered a Judgment granting the Commission's motions
for
     summary judgment, permanent injunction, and disgorgement and civil
     penalties against Donald R. Moore ("Moore").  The judgment of
permanent
     injunction enjoined Moore from violating Section 17(a) of the
Securities
     Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934
and
     Rule 10b-5 thereunder.  Moore was ordered to pay disgorgement in the
amount
     of $606,258.81, the sum which Moore fraudulently obtained from
investors,
     along with prejudgment interest thereon.  Moore was further ordered to
pay
     a civil penalty of $100,000 since his conduct involved fraud and
resulted
     in a substantial loss to other persons.

          The Commission's complaint, filed on September 30, 1993, alleged
that,
     from approximately September 1990 through at least April 1991, Moore
and a
     co-defendant solicited individuals each to  invest $1,500 for which
Moore
     promised to provide 100 shares of stock.  The shares of stock were to
be
     issued in an off-shore bank in the Republic of Nauru, later identified
to
     be the defendant, Pioneer Inc..  Moore received more than $300,000
from