U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No.17224 / November 7, 2001

   Securities and Exchange Commission v. Mustang Development Corporation,
   Tower Operating Company, Neal B. Stein, Cary S. Greene and Samuel
   Embras, Jr., Civil Action No. 97-0440 JGD (CTx) (C.D. Cal.)

   The Securities and Exchange Commission ("Commission") and the United
   States Attorney for the Central District of California today announced
   the filing of civil and criminal contempt proceedings in federal court
   in Los Angeles against recidivist Cary S. Greene, age 40, of Studio
   City, California.

   These proceedings are based on Greene's violation of a civil judgment
   entered against him in April 1997, in a Commission enforcement action
   entitled SEC v. Mustang Development Corporation, et al. In the Mustang
   action, Greene was charged with securities fraud in the offer and sale
   of oil and gas limited partnership interests. Greene was an officer,
   director and part owner of Mustang, which raised about $139 million
   from thousands of investors nationwide. While investors were told that
   their funds would be used to purchase oil and gas properties, in fact,
   Greene 1) commingled the assets of the partnerships; 2) operated a
   ponzi scheme by using millions of dollars from new investors to pay
   old investors their purported "returns;" and 3) misappropriated
   millions of dollars from investors for personal uses. Greene was also
   barred from the securities industry in a related Commission
   administrative proceeding.

   In the contempt proceedings, the Commission and U.S. Attorney's court
   filings allege that during a telephone conversation with a Postal
   Inspector posing as a prospective investor, Greene claimed that he was
   not a securities broker but instead represented himself to be a
   "founder" of and a "consultant" to Broadband Concepts & Technologies,
   Inc., based in Glendale, California. The filings further allege that
   Greene represented that Broadband had approximately 120 investors and
   that he believed the return on the investment would be 100 to 1 within
   18 months.

   During this same conversation, Greene made the following false
   statements
     * He falsely claimed that former U.S. Treasury Secretary Robert E.
       Rubin, represented by Insight Venture Partners, was in a "bidding
       war" to purchase Broadband shares. In fact, neither Robert Rubin
       nor Insight Venture Partners have invested in or with Broadband
       and have not made any proposals or commitments to invest in or
       with Broadband.
     * He falsely stated that the royal family of Saudi Arabia,