LITIGATION RELEASE NO. 15682 / March 25, 1998

   SECURITIES AND EXCHANGE COMMISSION v. DONALD C. FURGUSON, RENEE
   FERGUSON, DAVID L. FRIED, ALBERT l. FRIED, AND MATTHEW C. PERRY, Civil
   Action No. 96-1099-DRD (D. N.J.)

   The Securities and Exchange Commission ("Commission") announced that,
   on March 10, 1998, Final Orders of Permanent Injunction ("Final
   Judgments") were entered against Albert L. Fried ("A. Fried")of
   Allenhurst, New Jersey, and Matthew C. Ferry ("Ferry") of Hopewell,
   New Jersey, by United States District Judge Dickinson R. Debevoise,
   District of New Jersey, for insider trading in violation of the
   federal securities laws. The Final Judgments permanently enjoin A.
   Fried and Ferry from violating the antifraud sections of the federal
   securities laws, and ordered A. Fried to disgorge trading profits of
   $21,250, plus prejudgment interest of $10,870.76, and to pay a penalty
   of $21,250, for a total of $53,370.76, and Ferry to disgorge trading
   profits of $1,225, plus prejudgment interest of $626.67, and to pay a
   penalty of $1,225, for a total of $3,076.67. A. Fried and Ferry
   consented to entry of the Final Judgments without admitting or denying
   any of the substantive charges against them.

   In its complaint, which was filed on March 12, 1996, the Commission
   charged that A. Fried's son, David L. Fried ("D. Fried"), A. Fried and
   Ferry purchased securities of American Biltrite Inc. ("ABL") after
   receiving, from D. Fried's stepfather and mother, material, non-public
   information that ABL intended to enter into a joint venture agreement
   with Congoleum Corporation ("Congoleum"). The complaint alleged that,
   on November 30, 1992, in connection with his responsibilities as vice-
   president of engineering of the Amtico division of ABL, Donald
   Ferguson learned that ABL planned to publicly announce the intended
   joint venture. D. Fried, A. Fried and Ferry purchased a total of 6,550
   shares of ABL stock on December 1 and 2, 1992. ABL made a public
   announcement of the intended joint venture on December 3, 1992, which
   caused the price of ABL's stock to increase four points, or
   approximately 25%.

   Final Judgments of Permanent Injunction were entered on March 13, 1996
   against D. Fried's step-father and mother, Donald and Renee Ferguson,
   enjoining them from committing further violations of Section 10(b) of
   the Exbhange Act and Rule 10b-5 thereunder and imposing a penalty of
   $5,829 against each of them. A Final Judgment of Permanent Injunction
   was entered on Augyst 14, 1997 against D. Fried enjoining him from
   committing further violations of Section 10(b) of the Exchange Act and
   Rule 10b-5 thereunder and ordering him to disgorge trading profits of
   $5,829, plus prejudgment interest of $2,479.79, and to pay a penalty
   of $5,829. for further information, SEE Lit. Release Nos. 14829, 14843
   and 15488.