==========================================START OF PAGE 1======

                Securities and Exchange Commission


LITIGATION RELEASE NO. 14811 / February 6, 1996

Securities and Exchange Commission v. Cherif, Civ. Action No.89C
4204 (N.D. Ill.)

     The Securities and Exchange Commission announces that on
June 14, 1995, pursuant to a consent in which the defendant
neither admitted nor denied the allegations of the Commission's
complaint, the Federal District Court for the Northern District
of Illinois, issued an injunction permanently enjoining Danny
Omar Cherif from violating Sections 10(b) and 14(e)of the
Exchange Act and Rules 10b-5 and 14e-3 promulgated thereunder.

     The Court also ordered Cherif to pay $360,667.64 in
disgorgement of illegal profits, of which all but $168,782.37 was
waived based upon his demonstrated inability to pay.

     In its Complaint the Commission alleged that Cherif violated
the insider trading prohibitions of the federal securities laws
in connection with a scheme to steal confidential information
concerning mergers and acquisitions transactions from the First
National Bank of Chicago.