Securities and Exchange Commission

Litigation Release No. 17795 / October 22, 2002

SEC Alleges Fraud Against Aventura, Florida Public Company in Connection
with False SEC Filings and Against Its Transfer Agent for Violations of the
Federal Securities Laws

Securities and Exchange Commission v. Florida Stock Transfer, Inc., Vector
Holdings Corp., and Allen E. Weintraub, Case No. 02-23048-CIV-Ungaro-Benages
(S.D. Fla., filed October 15, 2002).

   The Securities and Exchange Commission (SEC) announced that on October
   15, 2002 it filed a federal civil action (action) against Florida
   Stock Transfer, Inc. (FST), Vector Holdings Corp. (Vector), and Allen
   E. Weintraub, president of both FST and Vector, in connection with
   alleged violations by FST of the transfer agent rules under the
   federal securities laws and alleged false filings with the SEC by
   Vector. The action asked for emergency relief against FST and
   Weintraub. On October 16, 2002, the Honorable Patricia Seitz, United
   States District Judge for the Southern District of Florida entered,
   among other things, a temporary restraining order against FST and
   Weintraub and an asset freeze against Weintraub.

   According to the SEC's complaint (complaint), Vector's transfer agent,
   FST, which is under the exclusive control of Weintraub, has engaged in
   violations of the transfer agent rules under the federal securities
   laws. The complaint alleges, among other things that FST did not
   produce all documents requested by SEC examiners during an examination
   of FST, did not create and maintain a daily log, and kept an
   incomplete and inaccurate master securityholder file for Vector.
   Further, the complaint alleges that since Weintraub gained control of
   Vector, its filings with the SEC have failed to disclose one or more
   of the following (1) In 1992, Weintraub pled guilty in Broward County,
   Florida to five felonies one count of organized fraud and four counts
   of grand theft; (2) In 1998, Weintraub pled nolo contendere in
   Miami-Dade County, Florida to four felony counts for fraudulent
   practices; (3) Also in 1998, a civil judgment was entered against
   Weintraub in the amount of $22,897.36, which remains unsatisfied; and
   (4) In 2000, a civil judgment was entered against Weintraub in the
   amount of $33,549.62 which also remains unsatisfied. The complaint
   also alleges that Vector misrepresented Weintraub's background in its
   annual report for the year ended December 31, 2001 which was later
   also incorporated by reference into a Form S-8 registration statement.
   The complaint further alleges Weintraub has profited from Vector's
   misrepresentations and omissions by dumping millions of Vector shares
   into the public market for a profit of well over $200,000.