SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 18092 / April 16, 2003

   SEC SUES FREEDOM GOLF CORPORATION'S PRESIDENT, CONTROL PERSON, AND
   PROMOTERS IN INTERNET PUMP-AND-DUMP SCHEME

   Securities and Exchange Commission v. C. Jones & Company, Carter Allen
   Jones, Timothy J. Miles, Gaylen P. Johnson, and Jonathan Curshen,
   Civil Action No. 03-WM-0636(PAC) (District of Colorado, filed April
   11, 2003)

   The Securities and Exchange Commission ("Commission") announced that
   it filed an action for injunctive relief in United States District
   Court in Denver, Colorado on April 11, 2003, charging four individuals
   with securities fraud for their participation in an alleged "pump and
   dump" scheme involving Freedom Golf Corporation's ("Freedom Golf")
   common stock. The defendants are Freedom Golf president Gaylen P.
   "John" Johnson; Timothy J. Miles, a principal shareholder; and two
   promoters, Carter Allen Jones and Jonathan Curshen. Jones' company, C.
   Jones & Company, also was charged.

   The complaint alleges that in the fall of 1999, Miles provided a
   broker-dealer with false information to be filed with the National
   Association of Securities Dealers in order to initiate public trading
   of securities issued by Freedom Golf's predecessor company. The
   complaint also alleges that from late January through early March
   2000, Miles paid two stock promoters, Jones and Curshen, to hype
   Freedom Golf via the Internet, telephone, and mail. Specifically, the
   complaint alleges that Jones arranged for the dissemination of between
   25 and 35 million unsolicited "spam" e-mails touting Freedom Golf in
   February 2000. During the same period, the complaint continues,
   Johnson created baseless profit, revenue, and expense projections for
   Freedom Golf that Jones published on his company's Internet website,
   and that Curshen publicized on an Internet message board. In addition,
   the complaint alleges that Jones and Curshen failed to disclose the
   full amount that Miles was paying them to tout Freedom Golf, in
   violation of the federal securities laws.

   The complaint further alleges that Freedom Golf's stock price and
   trading volume was pumped up to artificially inflated levels as a
   result of the false and misleading e-mails and baseless price
   projections. According to the complaint, during the course of this
   manipulation, Jones, Miles, and Curshen all sold shares of Freedom
   Golf stock and reaped profits of more than $500,000.

   The Commission's complaint alleges that as a result of the conduct
   described above, C. Jones, Jones, Miles, Johnson, and Curshen violated