SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C.

     Litigation Release No. 15426 / July 29, 1997

     SECURITIES AND EXCHANGE COMMISSION v. CHARLES BRUMFIELD, JOSEPH
BRUMFIELD,
     ROBERT ALLEN, WILLIAM MYLETT, JOSEPH PENNA, JOSEPH CUSIMANO, ALFRED
VOLPE,
     JAMES GALANTE, THOMAS ALGER, JOHN O'BRIEN, LAWRENCE FRIEDMAN, ROBERT
     FLANAGAN, THOMAS FLANAGAN, SHARON SEIDEN, WARREN SMITH, JOHN LYNCH,
AND
     ALBERT BRODY, United States District Court for the Southern District of
New
     York, Civ. Action No. 95-9283 (JES).

          On July 25, 1997, the United States District Court for the
Southern
     District of New York entered a Final Judgment of Permanent Injunction
and
     Other Equitable Relief against Joseph Brumfield for violations of the
     federal securities laws in connection with his trading in the shares of
NCR
     Corporation, which was an AT&T acquisition target, while he was in
     possession of material, non-public information.  Without admitting or
     denying the allegations in the Complaint, Joseph Brumfield consented to
the
     entry of an injunction, disgorgement of his profits of $28,812.33,
plus
     prejudgment interest, and a civil penalty of $28,812.33.

          The Commission's Complaint alleges that before November 8, 1990,
     Charles Brumfield, at the time a Vice President in AT&T's Human
Resources
     Department, learned material, non-public information about AT&T's plans
to
     acquire NCR.  Charles Brumfield told his son, Joseph Brumfield, about
     AT&T's plans to acquire NCR and Joseph Brumfield, in turn, told at
least
     two others about the planned acquisition who then traded in NCR
securities,
     and Brumfield traded in NCR securities himself.  Joseph Brumfield was