SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.

 Litigation Release No.  15834 / August 6, 1998

SECURITIES AND EXCHANGE COMMISSION v. ANINDYA N. BAKRIE, Civil
Action No. 98 CIV 5570 (AGS) (S.D.N.Y.)   (filed August 6, 1998)

On August  6, 1998, the Securities and Exchange Commission
("Commission") filed an insider trading complaint in the United
States District Court for the Southern District of New York against
Anindya N. Bakrie ("Bakrie"), a former junior financial analyst in
the Global Power Group of Salomon Smith Barney Inc.'s New York
office ("Salomon"). The Commission's complaint alleges that Bakrie,
an Indonesian national, engaged in insider trading in a company
that was involved in merger negotiations for which Salomon's Global
Power Group was participating as an adviser.

Specifically, the complaint alleges that:

*    On September 5, 1997, Bakrie asked his friend, Roy Handojo, to
  purchase common stock of Washington Gas Light Company ("Washington
  Gas") on Bakrie's behalf, promising to share any resulting profits
  with Handojo.

*    At the time, Washington Gas was engaged in confidential merger
  negotiations with a potential acquirer, Consolidated Natural Gas
  Company ("Consolidated"), for which Salomon, including its Global
  Power Group, was serving as investment banker.

*    On September 5, 1997, Handojo purchased 25,000 shares of
  Washington Gas common stock for a total investment of $650,000.

*    In the days prior to September 5, Bakrie had learned through
  Salomon that a merger announcement was imminent.

*    Bakrie had also performed limited work on the transaction for
  Salomon in August 1997.

*    On September 7, 1997, Bakrie learned through Salomon that the
  merger was no longer likely.

*    Immediately thereafter, Bakrie told Handojo that he had
  changed his mind about purchasing Washington Gas stock.

*    Over the next two days, September 8 and 9, 1997, Handojo sold
  all of the Washington Gas stock, incurring a $13,869 loss.

On September 12, 1997, the Commission filed an emergency civil
action against Handojo in the United States District Court for the
Southern District of New York concerning unrelated allegations of
insider trading (SEC v. Handojo, 97 Civ. 6805 (LAP)). See Lit. Rel.
Nos. 15492 and 15540.  That same day, the U.S. Attorney's Office
for the Southern District of New York arrested Handojo for the same
conduct alleged in the Commission's complaint in SEC v. Handojo.

According to the complaint in SEC v. Bakrie:

*    Within a week after Handojo's arrest, Bakrie abruptly returned
  to Indonesia to work for the Bakrie Group, which is an Indonesian
  conglomerate engaged in the business of, among other things,
  raising capital in the international markets and providing
  financial advisory services.

*    Bakrie resigned from Salomon shortly after returning to
  Indonesia.

The Commission's complaint seeks a permanent injunction against
Bakrie for violations of the antifraud provisions of the Securities
Exchange of 1934 ("Exchange Act") and civil penalties.
Simultaneously with the filing of the Commission's complaint,
Bakrie consented, without admitting or denying the allegations of
the complaint, to the entry of a final judgment permanently
enjoining him from violating Section 10(b) of the Exchange Act and
Rule 10b-5 thereunder and ordering him to pay a $40,000 civil
penalty.