UNITED STATES SECURITIES AND EXCHANGE COMMISSION

             Litigation Release No.  15976 / November 13, 1998

             Securities and Exchange Commission v. Austria Trust Company,
             Ltd., Glen Moyer and Bobby Lee Rodgers, defendants, and City
             (U.K.) Ltd.,  relief defendant. Civil Action No. 98-2370-GV
             (W.D. Tenn.)

                  The  Securities and Exchange Commission announced today
             that  the  Honorable  Julia  Smith  Gibbons,  United  States
             District Judge, issued final judgments against Austria Trust
             Company,  Ltd.   ("Austria   Trust"),   Bobby   Lee  Rodgers
             ("Rodgers")   and   Glen  Moyer  ("Moyer"),  of  Germantown,
             Tennessee and City (U.K.)  Ltd. ("CityUK"), a United Kingdom
             entity. The final judgments as to Austria Trust, Rodgers and
             Moyer permanently enjoin them  from violating Sections 5(a),
             5(c) and 17(a) of the Securities  Act  of  1933  and Section
             10(b) of the Securities Exchange Act of 1934 and Rule  10b-5
             thereunder,  set  disgorgement  but waive payment and do not
             impose   civil   penalties   based   on   those   defendants
             demonstrated  inability  to  pay. The final judgment  as  to
             relief defendant CityUK requires  CityUK  to  disgorge $1.67
             million to the registry of the Court. The defendants and the
             relief  defendant  consented to the final judgments  without
             admitting or denying the allegations of the complaint.

                  The  Commission's  complaint,  filed  April  23,  1998,
             alleged that  Austria  Trust, Rodgers and Moyer violated the
             registration  and  antifraud   provisions  by  selling  $2.7
             million of securities and promising  exorbitant returns from
             a "prime bank" note trading program. The  complaint  alleged
             that  the  trading  program  did not exist. Relief defendant
             CityUK was hired by the defendants to recover the funds from
             the entity which purportedly operated  the  trading program.
             The complaint alleged that CityUK was unjustly  enriched  by
             its holding of $2.5 million of the funds.