SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17476 / April 18, 2002

   SEC v. Excal Enterprises, Inc., et al. Civil Action No.
   95-1583-CIV-T-23B (M.D. Fla.)

   SEC AWARDS $29,000 AS BOUNTY IN INSIDER TRADING CASE

   The Securities and Exchange Commission today announced the award of a
   $29,000 bounty to John L. Skipper of Lincoln City, Oregon, who
   provided information and testimony leading to the imposition and
   collection of civil penalties in this litigation.

   Mr. Skipper, a former officer of Assix International, Inc., the
   predecessor to Excal Enterprises, Inc., notified the Commission of
   possible financial fraud at Assix and possible insider trading by
   individuals aware of the fraud. In addition to bringing this matter to
   the Commission's attention, he provided investigative testimony and a
   deposition in the litigation. The case was settled as to all
   defendants, who consented to the entry of injunctions and orders
   requiring the payment of penalties totaling $290,795 (as well as the
   payment of disgorgement and prejudgment interest totaling an
   additional $220,266).

   Section 21A(e) of the Securities Exchange Act of 1934 authorizes the
   Commission, in its discretion, to award a bounty to a person who
   provides information leading to recovery of a civil penalty from an
   insider trader, a person who "tipped" information to an insider
   trader, or a person who directly or indirectly controls an insider
   trader. The bounty may be in an amount up to 10% of the civil penalty
   actually recovered in the Commission's action.

   Additional information about insider trading bounties and applications
   for payment of a bounty is available on the Commission's Internet site
   at http //www.sec.gov.
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Modified 04/18/2002