SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

             LITIGATION RELEASE NO.  16067 / February 23, 1999

             SECURITIES AND EXCHANGE COMMISSION v. CHARLES D. LEDFORD
             Civil Action No. 99-CV-27SPM

             SEC FILES CIVIL ACTION FOR PERMANENT INJUNCTIVE RELIEF AND
             CIVIL MONETARY PENALTIES AGAINST CHARLES D. LEDFORD, FORMER
             PRESIDENT OF ECO2, INC.

                  On February 12, 1999, the Securities and Exchange
             Commission ("Commission") filed a complaint in the Northern
             District of Florida against Charles D. Ledford ("Ledford"),
             the former president, Chief Executive Officer and Chief
             Financial Officer of ECO2, Inc. ("ECO2"), seeking a
             permanent injunction and civil monetary penalties against
             Ledford for his repeated violations of Section 10(b) of the
             Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

                  According to the complaint, Ledford issued a series of
             false and misleading press releases designed artificially to
             inflate the price of ECO2’s publicly traded stock and
             attract new investors to ECO2.  ECO2, a Delaware company
             formerly headquartered in Hawthorne, Florida, was a
             development stage company established to provide solid waste
             tire management services to governmental, commercial and
             industrial entities through sales of a "tire recovery
             system." The tire recovery system purportedly utilized a
             pyrolysis process to recycle scrap tires into oil, carbon
             black, steel and methane gas by-products. Ledford, through
             the company, purportedly intended to build and sell the tire
             recovery systems and to market the by-products of the
             recovery process.   In fact, no tire recovery systems were
             ever sold by ECO2, which realized only limited income from
             the sale of scrap rubber and tipping fees.

                  The Commission alleges that from at least March 1995
             through early 1997, Ledford caused the company to issue
             false and misleading press releases to the public regarding
             negotiations between ECO2 and various entities for the
             purchase of ECO2’s tire recovery systems, and at least one
             press release regarding present and future revenues of an
             ECO2 subsidiary, ECO Jet Systems, Inc.