SECURITIES AND EXCHANGE COMMISSION 
                                   Washington, D.C.

     Litigation Release No. 15678 / March 19, 1998

     SECURITIES AND EXCHANGE COMMISSION v. BENJAMIN GOLDFIELD AND JOSEPH
     VALENTINE, Civil Action No. 98CV-1446 (AB) (E.D. Pa. March 19, 1998).

          The Securities and Exchange Commission today announced the filing of a
     civil injunctive action in the United States District Court for the Eastern
     District of Pennsylvania against Benjamin Goldfield and Joseph Valentine,
     alleging that they engaged in insider trading in the common stock of
     Escalade, Inc.  The Commission s Complaint alleges that, on August 6 and 9,
     1996, the defendants purchased Escalade common stock after
     misapppropriating information from a business client concerning a planned
     self-tender offer by Escalade.  In addition, the Complaint alleges that
     Goldfield encouraged the purchase of Escalade common stock by his parents,
     who are not named as defendants.  In all, Goldfield, Valentine and
     Goldfield s parents purchased 3,000 shares of Escalade common stock prior
     to the public announcement of the tender offer.  When the share price of
     Escalade common stock rose by 38% on the trading day following the
     announcement of the tender offer, August 13, 1996, Goldfield, Valentine and
     Goldfield s parents earned actual and imputed profits of $9,000.

          Simultaneous with the filing of the Complaint on March 19, 1998,
     Goldfield and Valentine each consented, without admitting or denying the
     allegations in the Complaint, to the entry of a Final Judgment permanently
     enjoining each of them from future violations of  Section 10(b) of the
     Exchange Act and Rule 10b-5 thereunder, and ordering that Goldfield pay a
     one-time civil penalty of $6,500 and that Valentine pay a one-time civil
     penalty of $2,500.  Both defendants had disgorged the profits from their
     illicit trades prior to the filing of the Commission s action.

          The Commission acknowledges the assistance of the Office of the
     Comptroller of the Currency in this matter.

















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