SECURITIES AND EXCHANGE COMMISSION

Litigation Release No.17188 / October 15, 2001

   SEC v. Jamie P. Piromalli, et al., Civil Action No. C2-00 622, (S.D.
   OH)

   On June 13, 2001, the Honorable Terence P. Kemp, Magistrate Judge of
   the U.S. District Court for the Southern District of Ohio, entered
   Final Judgments against defendants Steven Brewer, A. Michael Jaillett
   and Richard Mann, by default, for their participation in a nationwide
   Ponzi scheme, involving the offer and sale of unregistered nine-month
   promissory notes issued by World Vision Entertainment, Inc. ("World
   Vision"), a company located in Altamonte Springs, Florida.

   The Commission's Complaint, filed on June 1, 2000, alleged that from
   June 1996 to August 1999, Jamie P. Piromalli, Brewer, Jaillett, Mann
   and Seth Miller (collectively, "the Defendants"), through World
   Vision, raised at least $64 million from approximately 1,200 investors
   in 33 states from the sale of promissory notes. The Defendants offered
   and sold securities in the form of nine-month promissory notes without
   registering them with the Commission. In furtherance of the scheme,
   the Defendants, directly and indirectly, through a nationwide sales
   network, made numerous false and misleading statements to investors
   about the World Vision notes. For example, the Defendants
   misrepresented that the notes were unconditionally guaranteed and
   insured and that all of the proceeds of the offering would be used to
   develop World Vision's products. In reality, the notes were not
   guaranteed and the Defendants used the proceeds of the note offering
   to pay for the personal and business expenses of company officers and
   directors, to cover interest and principal payments to investors and
   to pay large, undisclosed commissions to the sales network.

   Brewer, Jaillett and Mann were permanently enjoined from future
   violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of
   1933, Section 10(b) of the Exchange Act of 1934 ("Exchange Act") and
   Rule 10b-5 thereunder. The Commission seeks disgorgement of their
   ill-gotten gains, including prejudgment interest, in the amount of
   $689,560 from Brewer, $332,148 from Jaillett and $2,012,988 from Mann.
   In addition, the Commission seeks civil penalties of $110,000 each
   against Brewer, Jaillett and Mann.

   For additional information, see (June 1, 2000).
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Modified 10/15/2001