SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 17179 / OCTOBER 11, 2001

   SEC CHARGES FOURTEEN ENTITIES AND INDIVIDUALS, INCLUDING A LAWYER AND
   AN ACCOUNTANT, IN $3.3 MILLION MARKET MANIPULATION SCHEME

   The Securities and Exchange Commission announced today that it filed a
   complaint in the federal District Court for the Southern District of
   New York against Ramoil Management Ltd. ("RAMO"), a Las Vegas, Nevada
   based company; Rodoljub "Misha" Radulovic, RAMO's former CEO;
   Alexander Taflevich, RAMO's former president; Edward A. Durante, a
   stock promoter residing in Gardiner, New York; Trevor Koenig, a former
   broker residing in British Columbia, Canada; Thomas Hauke, a Certified
   Public Accountant ("CPA") and partner at New York accounting firm Van
   Buren & Hauke; Moneesh K. Bakshi, an attorney residing in Middletown,
   New York; and certain foreign entities controlled by Durante.

   The Commission's Complaint alleges that from December 1999 through
   July 2000, Defendants engaged in a market manipulation scheme which
   drove RAMO's stock price from $7.0625 per share to an all-time high of
   $20.00 per share. The complaint alleges that Durante dumped 1.8
   million RAMO shares into the market for profits of approximately $3.3
   million during the course of the scheme. The complaint also alleges as
   follows
     * In December 1999, RAMO entered into a purported stock promotion
       agreement with Carib Securities, an entity controlled by Durante.
       Pursuant to this agreement, RAMO delivered over one million shares
       to Durante-controlled nominee accounts at Union Securities, Ltd.,
       a Canadian broker-dealer. Durante then instructed Koenig, his
       broker for these accounts, to execute a series of manipulative
       public trades to create artificial price increases in RAMO stock.
     * Radulovic and Taflevich made false public statements through press
       releases, SEC filings, and the Internet concerning, among other
       things RAMO's purported attempts to become listed on the NASDAQ;
       the claim that RAMO would obtain revenues of $1.6 billion and
       profits of $331 million by the year 2004; and a Letter of Intent
       RAMO supposedly entered into to purchase 45% of a Swiss Finance
       Company valued at $150 million. In fact RAMO had been told by the
       NASD that its NASDAQ Small Cap listing application was inadequate;
       RAMO's profit and revenue predictions were completely baseless;
       and the so-called Letter of Intent was nothing more than a one
       paragraph letter from Radulovic expressing a vague interest in the
       possibility of merging with the Swiss company.
     * In April 2000, RAMO filed a Form 10-K for its fiscal year ending
       December 31, 2000. The Form 10-K also contained an audit opinion
       that was purportedly signed by "Charles R. Eisenstein, C.P.A."
       This audit opinion was a forgery prepared by Hauke, who had been