SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

Litigation Release 17373 / February 22, 2002

   SECURITIES AND EXCHANGE COMMISSION v. PATRICK JOSEPH DANAHER, JOHN
   THOMAS DOHERTY, ROBERT PAUL WITTMAN, and TIMOTHY FREDRICK WARD, Civil
   Action No. 01 CV 8431 (TPG) (S.D.N.Y.)

                JOHN DOHERTY SETTLES INSIDER TRADING CHARGES

   The Commission announced today that on February 21, 2002, the U.S.
   District Court for the Southern District of New York entered a final
   judgment against John T. Doherty in a case involving charges of
   illegal trading and tipping prior to the November 24, 1997 public
   announcement that The Williams Companies would acquire Mapco
   Incorporated in a deal worth approximately $3.46 billion. The
   Commission's complaint alleged that Doherty made $20,375 in trading
   profits after receiving material, nonpublic information from a Mapco
   employee about the impending acquisition. He then tipped others,
   prompting them to buy Mapco securities as well.

   The Commission's complaint in this action, filed on September 10,
   2001, Litigation Release 17125, specifically alleged that, during the
   week before the public announcement, Patrick Danaher, a general
   manager of supply and trading at Mapco's Houston subsidiary, tipped
   Doherty, a childhood friend. Danaher told Doherty specific information
   about the impending takeover, including that Mapco was going to be
   acquired, that each Mapco share would be valued at $46 per share in
   the acquisition, and that an announcement would be made soon. Based on
   this information, Doherty purchased Mapco call options four days
   before the announcement and made illegal profits of $20,375. Doherty
   also tipped at least four other people, including two codefendants,
   Timothy Ward and Robert Wittman, both of whom worked with Doherty as
   oil futures brokers.

   Without admitting or denying the allegations in the Commission's
   complaint, Doherty settled with the Commission by consenting to the
   entry of an order enjoining him from violating Section 10(b) of the
   Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Doherty
   also consented to pay $106,341, representing disgorgement of profits
   and prejudgment interest on his trading ($27,993.39), profits and
   prejudgment interest of two of his tippees ($18,753.86), and a
   one-time civil penalty equal to Doherty's and four tippees' profits
   ($59,593.75).

   Doherty, an oil futures trader from Syosset, New York, is the last of
   eight defendants to settle in this and the related case of SEC v.