U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17411 / March 14, 2002

   Securities and Exchange Commission v. Harral Dunbar, Jr., Individually
   and d/b/a Ghost International, Civil Action Number 02-233-B-M1 (M.D.
   La.)

   PRELIMINARY INJUNCTION ISSUED AGAINST HARRAL DUNBAR, JR. FOR
   SECURITIES FRAUD CONDUCTED ON INTERNET AND REGISTRATION VIOLATIONS

   The Securities and Exchange Commission ("Commission") announced today
   that on March 13, 2002, following an evidentiary hearing, Judge Frank
   J. Polozola of the United States District Court for the Middle
   District of Louisiana issued a preliminary injunction with findings of
   fact and conclusions of law against Harral Dunbar, Jr., in his
   individual capacity and d/b/a Ghost International, an Internet Website
   operation. The Court's order imposed a freeze on the defendant's
   assets and ordered an accounting within 30 days. The Court found that
   Dunbar, of Baton Rouge, Louisiana, owned the Ghost International
   Website and used it to solicit investors in investment contracts by
   promises of inordinate amounts of guaranteed returns and promises of
   no-risk investing, and further found that investors have received
   little or no return despite several months of promises by Dunbar that
   returns would be paid.

   In its order of preliminary injunction, the Court found that between
   mid-2001 and the present, Dunbar obtained over $7,500 from eleven
   investors in Canada, Australia and the United States by touting Ghost
   International's "private contribution and investment program" which
   allegedly paid, for example, $100,000 on a $200 investment over a few
   weeks. Dunbar made various promises of returns, including ones up to
   1000 percent. Dunbar made various representations to fraudulently
   induce investors including that his company dealt in "high yield
   investments" and that funds were to be placed in offshore bank
   accounts, which would pay promised returns for five months of a
   supposed seven-month program. The Court also concluded that Dunbar
   lulled investors by making promises that payments would be made
   shortly. However, when the time elapsed, the promised payments were
   not forthcoming.

   The complaint charged Dunbar with, and the Court preliminarily
   enjoined Dunbar from, violations of Sections 5(a), 5(c) and 17(a) of
   the Securities Act of 1933 and Section 10(b) of the Securities
   Exchange Act of 1934, and Rule 10b-5 thereunder. The Commission also
   seeks a permanent injunction against Dunbar as well as an order
   compelling disgorgement of ill-gotten gains, along with prejudgment
   interest and civil penalties.