Securities and Exchange Commission
Washington, D.C.

Litigation Release No. 17467 /April 11, 2002

Securities and Exchange Commission v. Geoffrey Etherington II, Marie A.
Etherington, Harold W. Etherington, Nora H. Etherington, A&D Components
Inc., Charles E. Etherington, Christopher D. Anderson, Alison J. Anderson,
and Nellie M. Cardi; No. 1 02CV00691 (PLF)(D.D.C.)(April 11, 2002)

SEC Charges Former Aquarion Company Director and Relatives with Insider
Trading
Defendants Agree to Pay $880,000 to Settle Case

   The Commission today filed a civil action charging nine defendants,
   including a former director of Aquarion Company--a water utility based
   in Bridgeport, Connecticut--with insider trading in Aquarion stock. To
   settle the case, the nine defendants have consented to be permanently
   enjoined from violating the antifraud provisions of the Securities
   Exchange Act of 1934 (Exchange Act) and to pay a total of more than
   $880,000 in disgorgement, prejudgment interest, and civil money
   penalties.

   The Commission's complaint alleges the following before the June 1,
   1999 public announcement that Aquarion would be acquired by Yorkshire
   Water, plc, Geoffrey Etherington II--then a director of
   Aquarion--tipped his sons Charles E. Etherington and Harold W.
   Etherington, Harold's wife Nora H. Etherington, and a company owned by
   Harold and Nora Etherington, about the impending sale. These four
   tippees bought a total of 15,847 Aquarion shares. Geoffrey Etherington
   also tipped his wife, Marie A. Etherington, and she passed on the tip
   to her mother Nellie M. Cardi, her son from a previous marriage
   Christopher D. Anderson, and Christopher's wife Alison J. Anderson.
   These three tippees bought a total of 17,994 Aquarion shares. When the
   announcement of the sale drove up the stock price, the defendants made
   illegal profits of $233,400.

   Without admitting or denying the Commission's allegations, the
   defendants consented to the entry of final judgments enjoining them
   from violating Exchange Act Section 10(b) and Exchange Act Rule 10b-5,
   and ordering
     * Geoffrey Etherington II to pay a $233,400 civil penalty and,
       jointly and severally, disgorgement and interest totaling
       $287,335;

     * Marie A. Etherington to pay a $127,067 civil penalty and, jointly
       and severally, disgorgement and interest totaling $156,430;