UNITED STATES SECURITIES AND EXCHANGE COMMISSION

           LITIGATION RELEASE NO.  16112 \ April 14, 1999

           SECURITIES AND EXCHANGE COMMISSION v. BENJAMIN FRANKLIN COOK,
           individually and dba DENNEL FINANCE LIMITED, GERALD LEE PATE, ELLSWORTH
           WAYNE McLAWS and ALAN CLAGG, et al., 3:99CV0571-R, USDC, ND/TX  (Dallas
           Division)

                On April 2, 1999, Judge Jerry Buchmeyer, United States District
           Judge for the Northern District of Texas, rejected defendants’
           opposition and granted the Commission’s request for a preliminary
           injunction and other relief.  The pending civil action charges
           defendants with raising approximately $30 million in the fraudulent
           offer and sale of unregistered "prime bank" securities throughout the
           United States. The Court issued the preliminary injunction after
           holding an evidentiary hearing on April 1, 1999.

                At the hearing, a number of investors testified concerning the
           misrepresentations made to them about the use and safety of investor
           funds.  Investors were told that their funds, secured by a bank
           guarantee, would be used as collateral to trade financial instruments
           with top 50 European banks, and that the trading activity would provide
           them with annual returns of 24 to 60 percent. However, evidence
           presented at the hearing indicated that there were no bank guarantees,
           no investor funds were transferred to European banks for trading
           purposes, and no investment interest was received from European banks.
           In fact, in typical "Ponzi" scheme fashion, interest income paid to
           existing investors was paid from funds provided by new investors.

                The Court continued its asset freeze entered on March 16 against
           Benjamin Franklin Cook ("Cook"), individually and d/b/a Dennel Finance
           Ltd. ("Dennel"), Gerald Lee Pate ("Pate"), Ellsworth Wayne McLaws,
           ("McLaws") and Alan Clagg ("Clagg") and relief defendants FPC-1 Limited
           Partnership, Samuel Limited Partnership, Alliance Investments Corp.,
           Cornerstone Management LLC, International Business Consultants Limited,
           Highlander Limited Partnership, and C. Kelly Olsen.  The Court also
           ordered the defendants and relief defendants to repatriate all funds
           obtained from the activities described in the Commission’s complaint
           which are located outside the jurisdiction of the court, ordered the
           defendants to surrender their passports, and ordered that defendants
           render an accounting of all investor monies.

                The order preliminarily enjoins defendants Cook, individually and
           d/b/a Dennel, Pate , McLaws, and Clagg from violations of 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 ("Exchange Act") and Rule 10b-5
           thereunder, and Pate, McLaws, and Clagg from violations of Section
           15(a)(1) of the Exchange Act.