UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release No.  15611 / January 7, 1998

     SECURITIES AND EXCHANGE COMMISSION v. JAMES FRITH and CHICAGO PARTNERSHIP
     BOARD, INC., DEFENDANTS and ADBOT, INC, RELIEF DEFENDANT (United States
     District Court for the Northern District of Illinois, No. 97 C 8440).

          The Securities and Exchange Commission announced that it obtained a
     Final Judgment and Order of Permanent Injunction against James Frith
     (Frith) and Chicago Partnership Board, Inc. (CPB).  The Order, entered on
     December 15, 1997, enjoins Frith and the CPB from continuing to engage in
     violations of Section 17(a) of the Securities Act, Sections 10(b),
     15(c)(1), 15(c)(3), 17(a) and 17(e) of the Exchange Act and Rules 10b-5,
     15c1-2, 15c3-1, 15c3-3, 17a-3 and 17a-5 thereunder.

          The Commission s complaint alleged that from approximately May 1996
     through December 1997, Frith fraudulently diverted at least $3.4 million in
     funds owed to CPB's brokerage customers in connection with transactions in
     limited partnership units, and used those funds for a variety of personal
     and business expenses.  The complaint alleged that in order to disguise the
     effect of the misappropriation, Frith personally assumed approximately $3.4
     million in liabilities to sellers, and improperly removed those liabilities
     from CPB's books.  In doing so, CPB failed to maintain sufficient funds in
     a special reserve account required for the protection of customers and
     failed to maintain the legally required amount of net capital for an
     extended period.  In addition, the complaint alleged that CPB and Frith
     submitted false reports based on CPB's inaccurate books and records to the
     Commission on an annual basis, and the National Association of Securities
     Dealers on a monthly and quarterly basis.























                              ======END OF PAGE 1======