SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C.

          Litigation Release No.  15887 / September 18, 1998

          Securities and Exchange Commission v. Safetech Industries, Inc.
          Civil No. 1:98CV02226 (D.D.C.) (filed September 18, 1998)

          On September 18, 1998, the Commission filed a complaint in the
          United States District Court for the District of Columbia against
          Safetech Industries, Inc. ("Safetech Industries").  The complaint
          alleges that Safetech Industries, a company that manufactures and
          markets hurricane protection products whose securities are quoted
          in the pink sheets, failed to make available to the investing
          public current and accurate information about its financial
          condition and results of operation through the filing of periodic
          reports with the Commission as required by the Securities
          Exchange Act of 1934 ("Exchange Act").  Specifically, the
          complaint alleges that Safetech Industries has not filed its
          Annual Report on Form 10-K for the fiscal year ended March 31,
          1998, its Quarterly Reports on Form 10-Q for the fiscal quarters
          ended December 31, 1997 and June 30, 1998 and nine Notifications
          of Late Filing with respect to its delinquent reports.  The
          Commission seeks to compel Safetech Industries to file its
          delinquent periodic reports and enjoin Safetech Industries from
          further violations of Section 13(a) of the Exchange Act of 1934
          and Rules 12b-25, 13a-1 and 13a-13 thereunder.