SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17948 / January 23 , 2003

   SEC FILES CONTEMPT ACTION AGAINST DEFENDANT ANTHONY BLISSETT

   SEC V. A. B. FINANCING AND INVESTMENTS, INC., AND ANTHONY BLISSETT,
   Case No. 02-23487-CIV-UNGARO-BENAGES (S.D. Fla.) (filed December 6,
   2002)

   The Securities and Exchange Commission (Commission) announced that on
   January 6, 2003, it filed with the United States District Court for
   the Southern District of Florida a Motion for an Order to Show Cause
   why Defendant Anthony Blissett (Blissett) should not be held in
   contempt for failure to comply with a previous Court Order. The Motion
   alleged that Blissett failed to provide a sworn accounting in
   accordance with a Court Order entered on December 6, 2002.

   In its Complaint filed on December 6, 2002, the Commission alleged
   that A. B. Financing and Investments, Inc. (ABFI) and Blissett falsely
   guaranteed to investors and potential investors that ABFI would
   generate a 30%, risk-free and tax-free annual return on their
   investment. The Commission alleged that Blissett enticed potential
   investors to invest with ABFI by claiming that he could offer them an
   opportunity to make the type of investments, and corresponding
   profits, that have thus far been offered only to "whites" or select
   African Americans. Blissett also falsely represented that ABFI had
   over $36 million in assets, when, according to the Commission's
   Complaint, its financial documents and its federal income tax return
   for 2001 actually reflected a negative net worth of over $27 million.

   The Commission's Complaint also alleged that, although ABFI and
   Blissett claimed to generate returns for investors by making
   investments in, among other things, real property and insured
   securities, in reality the speculative stock and real estate purchases
   that ABFI and Blissett made with investor proceeds lost millions of
   dollars.

   On December 6, 2002, the Court entered an Order Granting the
   Commission's Ex Parte Motion for a Temporary Restraining Order, Asset
   Freeze and Other Emergency Relief against Blisssett and others. On
   December 13, 2002, the Court entered an Order of Preliminary
   Injunction and Other Relief as to Defendant Blissett by consent. The
   Court's Orders of December 6, 2002 and December 13, 2002 required
   Blissett to provide the Commission with a sworn accounting of all
   monies received by him from any other Defendant or Relief Defendant.
   To date, Blissett has not complied with the Court's Orders. The Motion
   for contempt is still pending before the Court.