UNITED STATES SECURITIES AND EXCHANGE COMMISSION

           LITIGATION RELEASE NO.  15809  /  July 14, 1998

           SECURITIES AND EXCHANGE COMMISSION v. INSNET WORLD COMMUNICATIONS,
           ET AL.,   4:97-CV-02525, USDC, SD/TX (Houston Division)

                On June 29, 1998,  Final Judgments by default were entered
           against defendants Insnet World Communications, Inc. ("Insnet"),
           SCB Resources, Inc. ("SCB"), Frank Bravo, Jr. ("Bravo"), Jose
           Manuel Diaz-Salin ("Salin"), and Scofield C. Berthelot, Jr.
           ("Berthelot").  Insnet, SCB, Salin, Bravo and Berthelot were all
           permanently enjoined from future violations of Sections 5(a), 5(c)
           and 17(a) of the Securities Act of 1933 and Section 10(b) of the
           Securities and Exchange Act of 1934 ("Exchange Act") and Rule 10b-5
           thereunder.  In addition, SCB was enjoined from furture violations
           of 15(a)(1) of the Exchange Act.  The Court ordered all defendants
           to pay disgorgement, and ordered Salin, Bravo and Berthelot to pay
           civil money penalties.  A final judgment of disgorgement was also
           entered by consent on June 29 against Eduardo "Eddie" Grijalva
           ("Grijalva"), a defendant solely for purposes of equitable relief.

                The Commission's July 28, 1997 complaint charged that the
           defendants offered and sold unregistered securities in the form of
           promissory notes.  Though claiming to use the proceeds from these
           notes to buy bulk telephone time and establish a calling-card
           business, the defendants actually operated a "Ponzi" scheme in
           which they used the funds from new investors to pay interest on
           notes held by their older clients.  According to records obtained
           by the Commission, the defendants raised approximately $4.8 million
           from at least 200 investors as of July 18, 1997.

                The Court ordered the defendants to pay disgorgement and
           prejudgment interest in the following amounts: Insnet--
           $5,452,381.66; SCB--$603,031.83; Salin--$1,517,772.35; Bravo--
           $981,900.36; and Berthelot--$32,600.  Relief defendant Grijalva
           consented to disgorgement and prejudgment interest of $14,641.00,
           with the Commission waiving payment of all but $4011.00 based on
           Grijalva's demonstrated financial inability to pay.  Salin, Bravo,
           and Berthelot were also ordered to pay civil monetary penalties of
           $100,000 each.  Finally, the Court appointed a distribution agent
           to disburse approximately $200,000 frozen in the defendants' four
           known bank accounts to Insnet's investors.

           FINAL JUDGMENTS ENTERED IN  SEC v. INSNET WORLD COMMUNICATIONS,
           Inc. et al.

                On June 29,  Final Judgments by default were entered against
                defendants Insnet World Communications, Inc. (Insnet), SCB
                Resources, Inc. (SCB), Frank Bravo, Jr. (Bravo), Jose Manuel
                Diaz-Salin (Salin), and Scofield C. Berthelot, Jr.
                (Berthelot).  Insnet, SCB, Salin, Bravo and Berthelot were all
                permanently enjoined from future violations of Sections 5(a),
                5(c) and 17(a) of the Securities Act of 1933 and Section 10(b)
                of the Securities and Exchange Act of 1934 (Exchange Act) and
                Rule 10b-5 thereunder.  In addition, SCB was enjoined from
                future violations of 15(a)(1) of the Exchange Act. The Court
                also ordered all defendants to pay disgorgement, and Salin,
                Bravo and Berthelot to pay civil money penalties.
                Additionally, a final judgment of disgorgement was entered by
                consent against Eduardo "Eddie" Grijalva, a defendant solely
                for purposes of equitable relief.

                The Commission's complaint charged that the defendants offered
                and sold unregistered securities in the form of promissory
                notes.  Though claiming to use the proceeds from these notes
                to buy bulk telephone time and establish a calling-card
                business, the defendants actually operated a "Ponzi" scheme in
                which they used the funds from new investors to pay interest
                on notes held by their older clients.  According to records
                obtained by the Commission, the defendants raised
                approximately $4.8 million from at least 200 investors.
                [Securities and Exchange Commission v. Insnet World
                Communications, Inc. et al., 4:97-cv-02525, USDC, SD/TX
                [Houston Division]]
                (LR-               )