UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 17137 / September 19, 2001

   Securities and Exchange Commission v. Zappa International Corporation,
   Scott L. Simpson, Scott B. Walker, Equity Management Services, Eagle
   Vision Holdings Inc., Wayne Nattrass, and Westminster Trading Trust,
   Civil Action No. 98-CV-213-B (USDC Wyo.)

   On December 29, 1999, the Commission obtained final judgments against
   defendants Scott L. Simpson, Zappa International Corporation, and
   Westminster Trading Trust, all formerly located in Richmond, Texas,
   and Eagle Vision Holdings Inc. and Wayne L. Nattrass, both formerly
   located in the Seattle, Washington area, which permanently enjoined
   the defendants from violating the anti-fraud provisions of Section
   17(a) of the Securities Act of 1933, Section 10(b) of the Securities
   Exchange Act of 1934 and Rule 10b-5. The United States District Court
   for the District of Wyoming ordered Simpson, Zappa and Westminster to
   jointly and severally pay disgorgement of $5,802,657 plus prejudgment
   interest of $630,267, and ordered Nattrass and Eagle Vision to jointly
   and severally pay disgorgement of $2,405,789 plus prejudgment interest
   of $209,012. The Commission alleged the defendants raised these funds
   from investors through the fraudulent sale of investments in trading
   programs that supposedly purchased prime bank instruments, by falsely
   offering guaranteed returns exceeding 200 percent per month, falsely
   claiming the programs were sponsored by the Federal Reserve Bank and
   the International Monetary Fund, and falsely representing that
   investors apostrophe funds were guaranteed against risk of loss by the
   top twenty-five world banks. The defendants consented to entry of the
   final judgments without admitting or denying the allegations in the
   Commission's amended complaint.

   On March 3, 2000, the District Court entered a final judgment against
   defendants Scott B. Walker and Equity Management Services of Afton,
   Wyoming, which permanently enjoined the defendants from violating the
   anti-fraud provisions of Section 17(a) of the Securities Act of 1933,
   Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.
   Based on the defendants' default the Court found that Walker and
   Equity Management had made false statements in connection with the
   sales of interests in a fictitious trading program of prime bank
   instruments. The Court found that Walker had no basis for his
   statements about the prime bank program because he did not obtain a
   bank guarantee of investors' funds; he did not know the persons
   trading the funds; had he inquired, he would have learned that the
   International Monetary Fund does not license traders and neither the
   International Chamber of Commerce nor the Federal reserve participates
   in nor approves prime bank instrument trading programs; he had no
   basis to claim returns of 50 to 100 percent per trade; and he did not