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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14825 / February 26, 1996

SECURITIES AND EXCHANGE COMMISSION v. PLEASURE TIME, INC. d\b\a
TELEPHONE INFORMATION SYSTEMS, et al. (S.D. Ohio, Civil Action
No. C-1-95-178)

     The Securities and Exchange Commission announced that on
August 1, 1995, an Order of Permanent Injunction and Other Relief
was entered against John C. Hicks (Hicks) by the United States
District Court for the Southern District of Ohio, Western
Division, in Cincinnati, Ohio.  Without admitting or denying the
allegations in the Commission's complaint, except as to subject
matter jurisdiction, Hicks consented to the entry of an order
permanently enjoining him from violating Sections 5(a), 5(c) and
17(a) of the Securities Act of 1933 and Section 10(b) of the
Exchange Act and Rule 10b-5 thereunder; and ordering
disgorgement, plus prejudgment interest, payment of which was
waived based on Hicks' demonstrated inability to pay.

     The Commission filed its complaint on March 13, 1995,
seeking injunctive and other relief against Hicks, Pleasure Time,
Minette Acra-Kelly, d\b\a Group Dynamics Downline (GDD), Richard
A. Welch (Welch), and Minette Acra-Kelly (Acra), entities and
persons located in Florida, Ohio and Indiana. The Commission's
complaint alleges that the defendants participated in a
fraudulent sales scheme involving unregistered securities that
were offered and sold to approximately 20,000 investors raising
over $3 million.  Investors were recruited through a "multi-level
marketing" system in which investors were encouraged to recruit
other investors.  Investors were recruited by telephone,
facsimile delivery, and the Internet and other computer networks.

They were allegedly told that they could reap enormous profits
from a world wide telephone lottery.  The lottery program was
purportedly going to employ a 900 number to attract players with
projected receipts of $300 million.  According to the complaint,
defendants understated and failed to disclose legal, regulatory
and technical obstacles to starting a lottery.  The complaint
further alleges, among other things, that defendants variously
violated the antifraud and registration provisions of the federal
securities laws.  On March 24, 1995, the United States District
Court for the Southern District of Ohio entered a preliminary
injunction order, including a freeze of assets, against Pleasure
Time, GDD, Acra and Welch.