UNITED STATES SECURITIES AND EXCHANGE COMMISSION
BOSTON, MASSACHUSETTS

Litigation Rel. No. 17461 / April 5, 2002

      Commission Obtains Temporary Restraining Order and Asset Freeze
   Against New York Businessman Martin Fife, Former Broker Dennis Herula,
    Rhode Island Attorney Mary Lee Capalbo and Others in Connection with
                         Fraudulent Offering Scheme

   The Commission announced today the filing of an emergency action
   against Martin D. Fife, a Dreyfus fund director, Dennis Herula, a
   former Raymond James broker, Mary Lee Capalbo, a Rhode Island
   attorney, Charles Sullivan, a former New England Patriots official,
   and others in connection with a fraudulent scheme that raised at least
   $52 million from investors between 1999 and 2001. the federal district
   court in Rhode Island on April 3 entered temporary restraining orders
   and asset freezes against Fife and others in connection with this
   conduct. The Commission alleged in its complaint, filed on April 1,
   that British citizen Michael Clarke and others promised investors
   exorbitant returns (such as a nearly 300% return in twelve banking
   days) through a high yield trading program purportedly operated by
   Fife under various names, including Brite Business and Seaview
   Development and Holdings, Ltd. According to the Commission's
   complaint, these representations were false because such high yield
   trading programs do not exist, and several of the defendants have
   misappropriated or otherwise failed to return over $20 million to
   investors. The complaint alleges that, within the past few months,
   certain of the defendants have either continued to attempt to solicit
   investors or have made misrepresentations to investors regarding their
   investments.

   According to the Commission's complaint, Clarke began soliciting
   investors through Brite Business in 1999. Fife, who currently serves
   as a director of several Dreyfus mutual funds, purportedly ran the
   Brite Business trading program, which he described as a "credit
   enhancement" or "balance sheet enhancement" program involving, among
   other things, the purchase of T-bills on margin. The complaint alleges
   that Fife told one investor that his funds were absolutely safe and
   that his trading program had been successful when, in fact, Fife had
   already lost a significant amount of investor funds in his trading
   program. The complaint alleges that, between 1999 and 2001, Clarke and
   Fife misappropriated, transferred or lost approximately $13 million in
   investor funds. During this period, most of the Brite Business
   investor funds were maintained in a brokerage account in Rhode Island
   at Raymond James Financial Services, Inc. The complaint alleges that
   Dennis Herula, the registered representative for the Brite Business
   account, and his wife, Rhode Island attorney Mary Lee Capalbo, played