SECURITIES AND EXCHANGE COMMISSION


          LITIGATION RELEASE No. 15948 / October 27, 1998

          SECURITIES AND EXCHANGE COMMISSION v. DARIN SPENCER RUEBEL,
          United States District Court for the Northern District of Texas,
          Civil Action No. 3-98CV2536D (N.D. Tx.)

          The Securities and Exchange Commission ("Commission") today
          announced the filing of a complaint in the U.S. District Court
          for the Northern District of Texas seeking a permanent injunction
          and civil penalty against Darin Spencer Ruebel ("Ruebel") for
          violations of the anti-touting provision of the Securities Act of
          1933.  Ruebel authored and published several investment
          newsletters, including an investment newsletter named The Equity
          Journal which was published on the Internet.

          The complaint alleges that Ruebel violated Section 17(b) of the
          Securities Act of 1933 by publishing and circulating at least
          three newsletters touting the stock of an issuer without
          disclosing that he anticipated and received compensation from
          this issuer.  Beginning in or around July 1997, Ruebel was
          negotiating with this issuer to provide consulting services for
          eighteen months in exchange for compensation of $2,500 per month.
          One element of the services to be provided by Ruebel was to
          heighten public awareness of the existence and merits of this
          issuer.

          The complaint further alleges that after Ruebel began negotiating
          with this issuer, he touted the stock of this issuer in an
          untitled newsletter without any disclosure that he anticipated
          receiving compensation from this issuer. After Ruebel entered
          into a written agreement with this issuer and this issuer began
          compensating Ruebel on a monthly basis, Ruebel touted the stock
          of this issuer in two separate issues of The Equity Journal
          without disclosing that he had received compensation and
          anticipated additional compensation from this issuer.  The Equity
          Journal contained only a general disclaimer that The Equity
          Journal and/or its affiliates "may receive compensation" from
          some of the profiled companies.

          Without admitting or denying the allegations of the complaint,
          Ruebel consented to the entry of a permanent injunction
          prohibiting him from committing violations of Section 17(b) of
          the Securities Act of 1933.  He also agreed to pay a civil
          penalty of $5,000.