ALERT 96-8
Type: Unauthorized Banking    Subject: Lifeguard Bancorp Ltd.


TO:  Chief Executive Officers of all National Banks; all State
     Banking Authorities; Chairman, Board of Governors of the
     Federal Reserve System; Chairman, Federal Deposit Insurance
     Corporation; Conference of State Bank Supervisors; Deputy
     Comptrollers (Districts); District Administrators; District
     Counsel and Examining Personnel.

     
          
RE:  Lifequard Bancorp Ltd.
     1800 E. Sahara Avenue, #104
     Las Vegas, Nevada 89104

     Information has been received that the subject entity may be
     operating a banking business in the United States without
     authorization.  The Office of the Comptroller of the
     Currency has not granted a national bank charter to this
     entity.  Further, the State of Nevada, Financial Insitutions
     Division has advised that the subject entity has not been
     granted permission to operate in Nevada.  Any information
     which you may have concerning this matter should be brought
     to the attention of:

                    Office of the Comptroller of the Currency
                    Enforcement & Compliance Division
                    250 E Street, S.W.
                    Washington, D.C.  202l9
                    Fax (202) 874-5301



                                      
     Daniel P. Stipano
     Director
     Enforcement & Compliance Division   
     Date:  April 19, 1996