United States Securities and Exchange Commission

Securities Exchange Act of 1934
Release No. 47490 / March 12, 2003

   Accounting and Auditing Enforcement
   Release No. 1740 / March 12, 2003

   Administrative Proceeding
   File No. 3-11063

   ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST PATTINSON HAYTON

   The United States Securities and Exchange Commission (Commission)
   announced today that it has issued an Order Instituting Administrative
   Proceedings Pursuant to Section 15(b)(6) of the Securities Exchange
   Act of 1934 (Exchange Act) against Pattinson Hayton (Hayton). The
   proceedings are based on the entry of a default judgment against
   Hayton on December 18, 2002 permanently enjoining him from violating,
   or aiding, abetting or causing violations of, Sections 5(a), 5(c) and
   17(a) of the Securities Act of 1933 (Securities Act) and Sections
   10(b), 13(a), 13(b)(2), 13(d), and 16(a) of the Exchange Act and Rules
   10b-5, 12b-20, 12b-25, 13a-1, 13a-11, 13a-13, 13d-1, 16a-2, and 16a-3
   thereunder. (Securities and Exchange Commission v. Tradamax Group,
   Inc., Hayton, et al., Civil Action No. SA CV 01-589 GLT (C.D. Cal.).

   The Commission's complaint alleged, among other things, that Hayton
   secretly controlled Tradamax Group, Inc., which formerly was a public
   company. Hayton disseminated false information to the public regarding
   the company's product (a purported online coffee bean trading system),
   Hayton's control of the company, the identity of the company's chief
   executive officer, the company's financial projections, and other
   material matters. The false statements and omissions were made in
   press releases, on Internet websites, in unsolicited e-mail messages,
   and in other promotional materials provided directly to investors, and
   in reports filed with the Commission.

   A hearing will be scheduled before an administrative law judge to
   determine whether the allegations contained in the Order are true, to
   provide Hayton an opportunity to dispute these allegations, and to
   determine whether a penny stock bar against him is appropriate and in
   the public interest.
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Modified 03/27/2003