U.S. SECURITIES AND EXCHANGE COMMISSION


     Litigation Release No. 16101 / March 31, 1999

     SECURITIES AND EXCHANGE COMMISSION v. PATRICK L. ANTRIM, DAVID
     HUDSON III, LORETTA ANTRIM and MICHAEL S. WHITNEY, Civil Action
     No. 98-535 GLT (EEx) (C.D. Cal.)

          The Securities and Exchange Commission announced that on
     March 23, 1999, the Honorable Gary L. Taylor of the United States
     District Court for the Central District of California entered a
     Final Judgment against defendant David Hudson III ("Hudson").
     Hudson, a resident of Garden Grove, California, was an officer,
     director, co-founder and 50% shareholder of The Ostrich Group,
     Inc. ("Ostrich Group"), a now defunct entity, which was located
     in Irvine, California.  The Final Judgment permanently enjoins
     Hudson from future violations of the antifraud and broker-dealer
     registration provisions of the federal securities laws and orders
     Hudson to pay disgorgement in the amount of $819,108.61, plus
     prejudgment interest.

          In its Complaint, the Commission alleged that from late 1995
     until June 1997 Hudson fraudulently raised $819,108.61 from
     approximately 83 investors throughout several states through the
     offer and sale of investment contracts for the sale and boarding
     of ostrich breeder birds.  The money raised from investors was
     supposed to be used to purchase, board and breed ostriches, and
     Hudson promised extravagant returns from the sale of ostrich
     offspring to meat processing plants.  In fact, however, Hudson
     and his previously enjoined co-defendants, Patrick L. Antrim and
     Loretta Antrim, misused investors' funds by spending most of the
     money on themselves and their family members instead of
     purchasing and boarding ostriches.  The Final Judgment enjoins
     Hudson from future violations of Section 17(a) of the Securities
     Act of 1933, Sections 10(b) and 15(a) of the Securities Exchange
     Act of 1934, and Rule 10b-5 thereunder.