UNITED STATES SECURITIES AND EXCHANGE COMMISSION

           LITIGATION RELEASE NO. 16129 \ April 30, 1999

           SECURITIES AND EXCHANGE COMMISSION v. SCOTT L. KLION, individually and
           d/b/a CEN-TEX ALCHEMY GUILD, and ELIZABETH ALANIZ,   W98-CA-186, USDC,
           WD/TX (Waco Division)

                On April 23, 1999, after issuing his findings of fact and
           conclusions of law on March 22, 1999,  Walter S. Smith, United States
           District Judge for the Western District of Texas, granted the
           Commission’s  motion for summary judgment and entered a Final Judgment
           against Scott L. Klion ("Klion"), individually and doing business as
           Cen-Tex Alchemy Guild, and Elizabeth Alaniz ("Alaniz").  Judge Smith
           found, among other things, that offering materials, newsletters and
           account statements prepared by Klion and Alaniz, and used by them in
           the offer and sale of Cen-Tex securities, were rife with false,
           misleading or incomplete statements of material fact.   He also found
           that a significant portion of the money the defendants raised from
           investors was spent on "Ponzi" payments to other investors, and for
           Klion’s and Alaniz’s personal expenses.

                In its summary judgment motion, the Commission demonstrated that
           Klion and Alaniz were responsible for, and implemented, an
           international investment scheme that defrauded over 1,400 victims of
           nearly $3 million.  The Commission further established that the
           defendants falsely represented to investors that Cen-Tex would invest
           their money in currency trading programs, and other undisclosed
           investment activities, that would generate gross returns of 400% per
           annum (or more, in limited circumstances), and that investors would
           receive "safe, guaranteed" returns -- payable in monthly dividends, or
           allowed to accrue and compound  -- ranging from 80% to 200% annually.
           In reality, the trading programs did not exist, and Klion and Alaniz
           used funds from current investors to pay purported monthly "dividends"
           to prior investors in an obvious "Ponzi" scheme, and for their own
           purposes.

                The Final Judgment permanently enjoins Klion and Alaniz from
           future violations of the antifraud provisions of the federal securities
           laws found in Section 17(a) of the Securities Act of 1933, and Section
           10b-5 of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
           The Court also terminated Klion’s and Alaniz’s right, title or interest
           in any funds or properties held by the court-appointed receiver,
           ordered Klion and Alaniz, jointly and severally, to pay disgorgement in
           the amount of $1,172, 759.21, plus prejudgment interest of $119,815.21,
           and assessed a $110,000 civil penalty against each defendant.