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               SECURITIES AND EXCHANGE COMMISSION 


LITIGATION RELEASE NO. 14984 / July 18, 1996 

Securities and Exchange Commission v. Balance for Life, Inc.,
Richard K. Steele, Sr., Richard K. Steele, Jr., Peter C. Tosto,
and Marcia Ann Coppertino, D. Colo. Civil No. 95-D-2471.

   The Securities and Exchange Commission announced that on July
1, 1996, Judge Wiley Y. Daniel of the United States District
Court for the District of Colorado issued a Final Judgment of
Permanent Injunction and Other Relief by consent against
defendant Peter C. Tosto of New York, New York enjoining him from
future violations of the securities registration provisions, the
antifraud provisions and the broker-dealer registration
provisions of the federal securities laws.  Tosto consented to
the Final Judgment without admitting or denying the allegations
in the Commission's Amended Complaint, which was filed on October
17, 1995.  The Final Judgement also orders Tosto to pay
disgorgement and prejudgment interest in the amount of $56,791.99
and imposes a second tier civil penalty of $15,000.

   The Commission's Amended Complaint alleges that, among other
things, from July 1991 through December 1992, Tosto and two other
defendants sold shares of Balance for Life, Inc. common stock to
at least 15 investors for proceeds of $328,000 while there was no
registration statement in effect or filed with the Commission and
without complying with any of the available exemptions from
registration.  The Amended Complaint alleges that Tosto and other
defendants made material misrepresentations to prospective
investors that Balance for Life, Inc. would soon publicly trade
on Nasdaq, that Balance for Life, Inc. would earn $0.85 per share
and $2.14 per share in 24 and 36 months, and claimed that the
stock of Balance for Life would soon trade at $17 to $45 per
share, all without reasonable basis because in fact Balance for
Life did not have sufficient assets for listing on Nasdaq, had no
operations and a net loss in 1990 of $177,000.  The Amended
Complaint also alleges that Tosto operated an unregistered
broker-dealer and used cold-callers and lead lists to sell the
securities of Balance for Life.  
     Tosto was enjoined from violating Sections 5(a) and (c), and
17(a) of the Securities Act of 1933, and Sections 10(b) and
15(a)(1) of the Securities Exchange Act of 1934 and Rule 10b-5.