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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15182 / December 10, 1996

Securities and Exchange Commission V. Met Capital Corporation and
Jeffrey Hackman, (United States District Court for the Southern
District of Florida, Civil Action No. 95-8596, filed September
27, 1995).

     The Securities and Exchange Commission announced that on
June 6, 1996, the United States District Court for the Southern
District of Florida entered an order of permanent injunction
enjoining Met Capital Corporation (Met) and its former President,
Jeffrey Hackman (Hackman), from violating Section 17(a) of the
Securities Act of 1933, Sections 10(b) and 13(a) of the
Securities Exchange Act of 1934 and Rules 10b-5, 12b-20, 13a-1,
13a-11, and 13a-13, thereunder.

     The defendants consented to the relief without admitting or 
denying the allegations set forth in a complaint filed by the
Commission on September 27, 1995.  Civil penalties were not
imposed based upon the defendants' sworn representations
concerning their inability to pay such civil penalties. 

     The Commission s complaint alleged that Met and Hackman made
misrepresentations of material fact while acquiring control of
other companies in exchange for Met stock, including Met's
intention to infuse cash into the acquired companies.  The
complaint also alleged that Met, under the control of Jeffrey
Hackman, filed reports with the Commission which failed to
disclose such material information as the fact that certain
transactions for Met had been with companies also under the
control of the Hackman family and that Hackman had previously
been associated with companies for which bankruptcy petitions had
been filed.