UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION NO. 17545 / June 5, 2002

   SECUTITIES AND EXCHANGE COMMISSION v. BRUCE D. LE DUC, U.S. District
   Court for the District of Minnesota 02-CV-1185 (Erickson, J.) (May 30,
   2002)

     COMMISSION FILES COMPLAINT AGAINST BRUCE D. LE DUC FOR AIDING AND
   ABETTING REPORTING AND SHORT SALE VIOLATIONS COMMITTED BY GEORGE KLINE

   The Commission announced today that it filed and simultaneously
   settled an injunctive action against Bruce D. Le Duc for aiding and
   abetting certain securities violations committed by George Kline. On
   April 17, 2002 George Kline was criminally sentenced to 6 ½ years in
   prison for insider trading, reporting and short sale violations.
   George Kline was ordered to pay approximately $5.25 million. He also
   consented in an injunctive action filed by the Commission to the entry
   of an injunction and to a bar from serving as an officer or director.
   Kline's sons, Erich and Christian, were also sentenced to 2 years in
   prison and 4 years of probation, respectively, for similar violations.
   Erich Kline was ordered to pay $450,000, and Christian Kline was
   ordered to pay $475,000. On May 30, 2002, Le Duc was criminally
   convicted and sentenced to 4 years of probation for his conduct and
   was ordered to pay a fine of $80,000.

   The complaint alleges that Le Duc effected securities transactions on
   behalf of George Kline knowing that Kline sat on the boards of some of
   the companies he was trading. The complaint further alleges that Le
   Duc assisted Kline in illegal short sales of stock in a company,
   knowing that Kline was a member of the board of directors for that
   company. The complaint also alleges that Le Duc engaged in various
   securities transactions in his own brokerage accounts at the same time
   that George Kline directed him to effect securities transactions in
   the account of a company that Le Duc and Kline jointly owned. The
   complaint further alleges that Le Duc knew at the time that these
   transactions involved the stock of companies on which Kline served as
   a member of the Board of Directors and had access to material,
   non-public information.

   Le Duc consented, without admitting or denying the allegations in the
   complaint, to the entry of a permanent injunction enjoining him from
   violating Sections 16(a) and 16(c) of the Securities and Exchange Act
   of 1934, and Rule 16a-3 thereunder. Le Duc also consented to the entry
   of an Order barring him from association with any broker or dealer or
   investment adviser with a right to reapply in three (3) years.

   The complaint notes that the Commission did not seek disgorgement and