SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17813 / October 29, 2002

   FINAL JUDGMENTS OF PERMANENT INJUNCTION ENTERED AGAINST FORMER
   BROKERAGE FIRM AND ITS VICE PRESIDENT OF SALES

   SECURITIES AND EXCHANGE COMMISSION V. DISCOVERY CAPITAL GROUP, ERIK
   WALSH, AND JOHN ABRESCH, Case No. 02-60363-CIV-HUCK (S.D. Fla., filed
   March 14, 2002)

   The Securities and Exchange Commission ("SEC" or the "Commission")
   announced that on October 24, 2002, the United States District Court
   for the Southern District of Florida entered a Final Judgment of
   Permanent Injunction and Other Relief ("Final Judgment") against John
   Abresch ("Abresch"), the vice president and director of institutional
   sales of Discovery Capital Group, Inc. ("Discovery Capital"), a
   broker-dealer registered with the Commission since 1992. The Final
   Judgment against Abresch, entered by Abresch's consent and without
   admitting or denying the allegations of the Commission's Complaint,
   enjoins Abresch from violations of Section 17(a) of the Securities Act
   of 1933 ("Securities Act") and Section 10(b) of the Securities
   Exchange Act of 1934 ("Exchange Act"), and Rule 10b-5 thereunder. The
   Final Judgment also orders Abresch to disgorge $570,816, with
   prejudgment interest thereon, but waives payment of disgorgement and
   interest in excess of $195,000, and does not impose a civil penalty,
   based upon his sworn financial statement and documentation provided to
   the Commission.

   On March 14, 2002, the SEC filed an emergency action against Discovery
   Capital, Abresch and others seeking to enjoin the ongoing fraudulent
   offering of securities issued by Discovery Capital in the form of
   promissory notes and preferred stock. The Complaint alleged that from
   at least June 2001 through the filing of the action, Discovery Capital
   raised at least $2.7 million through the use of a network of primarily
   unlicensed sales agents using high pressure sales tactics and making
   misrepresentations about, among other things, Discovery Capital's
   growth, its affiliations with well-known brokerage firms and other
   institutions, and the safety of the investments.

   On the same day, the Court also entered a Final Judgment of Permanent
   Injunction against Discovery Capital, by the consent of the
   Court-appointed Receiver for Discovery Capital, enjoining Discovery
   Capital from violations of Section 17(a) of the Securities Act,
   Sections 10(b), 15(c) and 17(a) of the Exchange Act, and Rules 10b-5,
   15c1-2, 15c3-1, 17a-3, 17a-4, 17a-5, and 17a-11 thereunder. The
   Receiver consented to the entry of the Final Judgment without
   admitting or denying the allegations of the Complaint.