UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17538 / May 30, 2002

   Accounting and Auditing Enforcement Release No. 1562 / May 30, 2002

   SEC v. James Murphy, et al., Civ. Action No. 00cv11981-PBS (D. Mass.,
   filed September 26, 2000)

   JAMES MURPHY, FORMER CFO OF CENTENNIAL TECHNOLOGIES, ENJOINED FROM
   VIOLATING FEDERAL SECURITIES LAWS AND ORDERED TO PAY A CIVIL PENALTY
   OF $150,000 FOR HIS PARTICIPATION IN THE FINANCIAL FRAUD AT COMPANY

   The Securities and Exchange Commission announced that on April 29,
   2002, the Hon. Patti B. Saris of the United States District Court for
   the District of Massachusetts entered a judgment enjoining James
   Murphy, Centennial Technologies, Inc.'s former CFO, from violating and
   aiding and abetting violations of the antifraud, record keeping and
   internal controls provisions of the federal securities laws. Judge
   Saris also barred Murphy for ten years from acting as an officer or
   director of a public company and ordered him to pay a civil penalty of
   $150,000 for his participation in the financial fraud at Centennial.

   The Commission's complaint alleged that between April 1994 and
   December 31, 1996, Murphy and Emanuel Pinez, Centennial's former CEO,
   with the assistance of others, engaged in a fraudulent scheme to
   overstate the value of Centennial's revenues, net income, inventory,
   and fixed assets in public announcements and in periodic financial
   statements filed with the Commission. The complaint charged Murphy
   with violations of §17(a) of the Securities Act, §§10(b) and 13(b)(5)
   of the Exchange Act and Rules 10b-5, 13b2-1, and 13b2-2 thereunder,
   and aiding and abetting Centennial's violations of §§13(a), 13
   (b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 12b-20,
   13a-1, and 13a-13 thereunder.

   For further information, please see, Litigation Release Nos. , , , , ,
   , , and .
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Modified 05/30/2002