UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 17207 / October 25, 2001.

   SECURITIES AND EXCHANGE COMMISSION V. STEVEN GOLDSBOROUGH AND WILLIAM
   GOLDSBOROUGH, INDIVIDUALLY AND DOING BUSINESS AS THE LIQUIBUYERS GROUP
   Civil Action No. 3 01-CV-2134-G (N.D. Texas, Dallas Division)

   On October 24, 2001, the Commission filed civil fraud charges in
   federal district court in Dallas, Texas, against Steven Goldsborough
   and William Goldsborough, individually and d/b/a The Liquibuyers Group
   (Defendants) in connection with an unregistered Internet offering of
   so-called "pre-IPO stock vouchers." The Commission's complaint alleges
   that the Defendants used an Internet website to defraud over 30
   investors throughout the United States, raising approximately $750 in
   the fraudulent offering. Simultaneously with the filing of its action,
   the Defendants have agreed to settle this matter by consenting to the
   entry of a permanent injunction described below.
     * The Liquibuyers Group, a Fort Worth, Texas based unincorporated
       business entity, claimed to provide merchandise liquidation
       services to furniture wholesalers. Liquibuyers owned no assets and
       conducted no business activities other than the Internet stock
       voucher offering.
     * Steven Goldsborough, age 22, is a resident of Fort Worth, Texas,
       and operated, together with his brother William Goldsborough, the
       Liquibuyers website.
     * William Goldsborough, age 30, is a resident of Fort Worth, Texas,
       and operated, together with his brother Steven Goldsborough, the
       Liquibuyers website.

   The Commission's complaint charges the Defendants with securities
   fraud in connection with a promotion for The Liquibuyers Group in
   which the Defendants offered stock vouchers on an Internet website for
   "administrative" fees ranging from $10 to $25. Promising returns of up
   to $3,500 on a $10 investment, the Defendants claimed that investors
   could redeem their stock credits for common stock when Liquibuyers
   completed a purportedly impending initial public offering (IPO) of its
   securities in January 2001.

   According to the complaint, the Defendants made numerous
   misrepresentations and omissions of material facts in connection with
   the offering, including that the Commission had approved the offering,
   that Liquibuyers would soon conduct an IPO, and that Liquibuyers stock
   would be valued at $17.50 to $35 per share at the time of its IPO. In
   reality, the Commission never approved the offering and Liquibuyers
   never undertook any meaningful steps to conduct an IPO. The complaint
   further alleges that Liquibuyers never established offices, never
   acquired any inventory, and never offered any products or services,