U.S. Securities and Exchange Commission

Litigation Release No. 17646 / July 31, 2002

Court Orders Arizona Trust and Trustee to Pay $2.1 Million for Role in
Internet Pump and Dump Scheme

, Civil Action No. SACV 01-1133 GLT (ANx) (C.D. Cal.).

   The Securities and Exchange Commission announced today that a federal
   judge in Southern California ordered Life Foundation Trust and its
   trustee Jeannette Wilcher to pay $2.1 million in combined disgorgement
   of illegal profits and penalties for their role in a pump and dump
   scheme involving the stock of Hitsgalore.com, Inc. Hitsgalore was a
   publicly traded Internet company located in Rancho Cucamonga,
   California, that maintained a website providing an Internet search
   engine and leasing advertising space to consumers.

   On November 28 2001, the Commission filed an action against Wilcher
   and Life Foundation Trust along with Hitsgalore and its former
   president, Stephen J. Bradford. The complaint charged Hitsgalore and
   Bradford with fraud in connection with several press releases issued
   by the company between April 16 and May 10, 1999 that contained false
   and misleading statements about a purported investment in Hitsgalore
   by Life Foundation Trust. The fraudulent press releases caused a
   dramatic rise in the price of Hitsgalore's stock, quoted on the OTCBB,
   from $6.3125 to a high of $20.125. The complaint also charged Life
   Foundation Trust, a Scottsdale, Arizona, for-profit trust, and
   Wilcher, a resident of Scottsdale, Arizona, with aiding and abetting
   Hitsgalore's fraud and illegally selling Hitsgalore stock. The
   Commission previously settled its claims against Bradford and
   Hitsgalore.

   On July 29, 2002, the Honorable Gary L. Taylor, United States District
   Judge for the Central District of California, resolved the case
   against Life Foundation Trust and Wilcher on summary judgment without
   the need for trial. The Court (1) permanently enjoined Life Foundation
   Trust and Wilcher from further violations of the antifraud provisions
   of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
   thereunder and the registration provisions of Sections 5(a) and 5(c)
   of the Securities Act of 1933; (2) held Life Foundation Trust and
   Wilcher jointly liable for disgorgement of the $1,024,418.50 that Life
   Foundation Trust made in profits on the illegal sale of Hitsgalore
   stock; (3) ordered Life Foundation Trust to pay a civil penalty of
   $1,024,418.50; and (4) ordered Wilcher to pay a civil penalty of
   $110,000.

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