SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17413 / March 14, 2002

   SEC v. Jamie P. Piromalli, et al., Civil Action No. C2-00 622, (S.D.
   OH)

   On January 22, 2002, the Honorable James L. Graham of the U.S.
   District Court for the Southern District of Ohio, entered an Order of
   Disgorgement and Civil Penalty against defendant Jamie P. Piromalli,
   requiring him to pay $5,218,531.61 in disgorgement and prejudgment
   interest as well as an $110,000 civil penalty. Piromalli masterminded
   a nationwide Ponzi scheme involving the offer and sale of unregistered
   nine-month promissory notes issued by World Vision Entertainment, Inc.
   ("World Vision"), a company located in Altamonte Springs, Florida. On
   August 27, 2001, Judge Graham had previously entered an Order of
   Permanent Injunction against Piromalli for his role in the World
   Vision scheme.

   Specifically, the Commission's Complaint, filed on June 1, 2000,
   alleged that from June 1996 to August 1999, Piromalli, Steven Brewer,
   A. Michael Jaillett, Richard Mann and Seth Miller (collectively, "the
   Defendants"), through World Vision, raised at least $64 million from
   approximately 1,200 investors in 33 states from the sale of promissory
   notes. The Defendants offered and sold securities in the form of
   nine-month promissory notes without registering them with the
   Commission. In furtherance of the scheme, the Defendants, directly and
   indirectly, through a nationwide sales network, made numerous false
   and misleading statements to investors about the World Vision notes.
   For example, the Defendants misrepresented that the notes were
   unconditionally guaranteed and insured and that all of the proceeds of
   the offering would be used to develop World Vision's products. In
   reality, the notes were not guaranteed and the Defendants used the
   proceeds of the note offering to pay for the personal and business
   expenses of company officers and directors, to cover interest and
   principal payments to investors and to pay large, undisclosed
   commissions to the sales network. As a result, when World Vision filed
   for bankruptcy protection in September 1999, investors lost
   approximately $52 million.

   On August 27, 2001, Piromalli was permanently enjoined from future
   violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of
   1933, Section 10(b) of the Exchange Act of 1934 ("Exchange Act") and
   Rule 10b-5 thereunder. The Court had also previously permanently
   enjoined Brewer, Jaillett and Mann for the same violations by default,
   and ordered them to pay an $110,000 civil penalty each and
   disgorgement and prejudgment interest of $651,933, $346,689 and
   $2,116,870, respectively. On December 5, 2001, the Court permanently