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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION


LITIGATION RELEASE NO. 15113 / October 8, 1996

SECURITIES AND EXCHANGE COMMISSION v. ROBERT F. DOVIAK, II, et
al.
3:93-CV-0444, USDC/ND TX [Dallas Division]

     The Securities and Exchange Commission announced that on
October 3, 1996, an Agreed Final Judgment was entered against
Robert F. Doviak, II, ("Doviak") requiring Doviak to disgorge
$844,000, plus prejudgment interest, which represents the total
disgorgement amount less the net value of assets Doviak
previously turned over to the Special Master appointed by the
Court. However, payment of the disgorgement amount, and
prejudgment interest, was waived based on Doviak's demonstrated
inability to pay. Additionally, no civil money penalty was
imposed based on his poor financial condition.

     On September 15, 1993, Doviak consented to the entry of a
permanent injunction which enjoined him from future violations of
Section 17(a) of the Securities Act of 1933, and Section 10(b) of
the Securities Exchange Act of 1934 ("Exchange Act"), and Rule
10b-5 thereunder. Doviak was also enjoined from aiding and
abetting violations of Sections 15(c) and 17(a) of the Exchange
Act and Rules 15c3-1, 17a-3, 17a-5, 17a-11(a)-1 and 17a-11(c)
thereunder. Doviak consented to the entry of the injunction
without admitting or denying the allegations in the Commission's
complaint that he raised over $4 million in sales of limited
partnership interests, and diverted over $1 million either to
himself or to fund the broker-dealer he controlled. The complaint
also alleged that the broker-dealer, aided and abetted by Doviak,
failed to maintain the minimum required net capital on four
separate occasions and committed numerous violations of the book
and record keeping, and notice provisions of the Exchange Act.

     Doviak is currently serving 27 months in federal prison for
the same activities alleged in the Commission's civil action.