SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 16904 / February 21, 2001

SEC SETTLES CASE AGAINST REMAINING PARTIES IN FERROFLUIDICS COURT CASE

SEC v. Ferrofluidics Corp., Ronald Moskowitz, Jerome R. Allen, Jan R. Kirk, Stephen P. Morin, Bruce S. Moody, and The 1991 RPM Irrevocable Trust, 97 Civ. 7174 (RMB), S.D.N.Y.

On February 16, 2001, the U.S. District Court for the Southern District of New York entered a final judgment as to Bruce S. Moody and The 1991 RPM Irrevocable Trust in SEC v. Ferrofluidics Corp., et al. (97 Civ. 7174 (RMB)). Without admitting or denying the Commission's allegations, Moody and the Trust consented to the entry of an injunction prohibiting future violations of Section 13(d) of the Securities Exchange Act of 1934 and Rule 13d-2 thereunder. This represents the final resolution of this civil action, which was filed on September 25, 1997.