U.S. SECURITIES & EXCHANGE COMMISSION

Litigation Release No. 17945 / January 22, 2003

   SECURITIES AND EXCHANGE COMMISSION v. NED C. SNEIDERMAN, United States
   District Court for the Northern District of California, Civil Action
   No. C-02-0001

   COURT ENTERS JUDGMENT, ORDERS PENALTIES AGAINST KENTUCKY MAN FOR
   INTERNET HOAX

   On January 13, 2003, federal judge James Ware of the Northern District
   of California granted the Securities and Exchange Commission's motion
   for default judgment against Ned Sneiderman, enjoining the 25-year-old
   Louisville resident from committing securities fraud and ordering him
   to pay a $60,000 civil penalty.

   The SEC sued Sneiderman, 25, in January 2002, alleging that Sneiderman
   had posted a phony press release on a Yahoo! Internet bulletin board.
   The press release purported to announce that Extreme Networks, Inc.
   ("Extreme Networks"), a Santa Clara technology company, was acquiring
   Viasource Communications, Inc. ("Viasource"), a small Florida
   technology company. The phony news caused Viasource's stock price and
   volume to surge. According to the SEC's complaint, Sneiderman had
   purchased Viasource stock earlier that morning, and had hoped to
   profit from the price spike caused by his fraud. However, within an
   hour after the false posting, Extreme Networks and Viasource denied
   the existence of a tender offer, and trading in both stocks was halted
   temporarily, preventing Sneiderman from capitalizing on his fraud.

   Sneiderman repeatedly failed to appear before the court. In the
   January 13, 2003, order, the court found that the SEC's complaint and
   evidence submitted by the SEC established Sneiderman's liability for
   securities fraud. The court permanently enjoined Sneiderman from
   violating Section 10(b) of the Securities Exchange Act of 1934
   ("Exchange Act") and Rule 10b-5 thereunder, and ordered him to pay
   $60,000 in civil penalties.

   For further information, see Litigation Release No. 17294 (January 3,
   2002).

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Modified 01/23/2003