U.S. Securities & Exchange Commission

Litigation Release No. 17956 / January 29, 2003.

   DEAN J. JUPITER PERMANENTLY ENJOINED FROM COMMITTING FRAUD

   , Civil Action No. S-00-2918 (D. MD).

   The U.S. Securities and Exchange Commission (Commission) announced
   today that on January 17, the Honorable Frederic N. Smalkin, U.S.
   District Judge for the District of Maryland, entered an Order of
   Permanent Injunction against Dean J. Jupiter, a resident of Jupiter,
   Florida. The order prohibits Jupiter from engaging in fraud in
   violation of Section 10(b) of the Securities Exchange Act of 1934
   (Exchange Act) and Rule 10b-5 promulgated thereunder. The order also
   requires Jupiter to pay disgorgement of all ill-gotten gains in an
   amount to be determined later. Jupiter consented to the order without
   admitting or denying the allegations in the Commission's complaint.

   The Commission sued Jupiter on September 28, 2000, for his alleged
   role in a scheme to defraud Alexander & Alexander Services Inc.
   (Alexander), a Maryland based insurance brokerage firm, which was
   acquired by Aon Corp. in 1997. The Commission's complaint alleged (1)
   from 1992 through April 1997, Alexander's portfolio manager, William
   F. Mahon, secretly traded millions of dollars in high-risk derivatives
   and concealed $62 million in losses and $35 million in gains resulting
   from such trading on Alexander's books and records; (2) Jupiter, a
   former registered representative of a brokerage firm, sold Mahon
   several of these derivatives and received sales commissions of at
   least $14.3 million; (3) from 1993 to 1995, Jupiter paid Mahon at
   least $190,000 in kickbacks to induce him to continue investing in the
   high-risk derivatives; (4) at the inception of the scheme, Jupiter
   discussed with Mahon how to conceal from Alexander losses from his
   trading in the high-risk derivatives; and (5) Jupiter never disclosed
   to Alexander his knowledge of the scheme or his kickback payments to
   Mahon.

   Previously, Mahon consented, without admitting or denying the
   allegations in the complaint, to an order permanently enjoined him
   from violating Sections 10(b) and 13(b)(5) of the Exchange Act and
   Rules 10b-5 and 13b2-1 thereunder. He also paid disgorgement of
   $190,000, prejudgment interest of $114,862.08 and a civil penalty of
   $50,000.

   For further information, see (October 4, 2000).

     _________________________________________________________________