SECURITIES AND EXCHANGE COMMISSION

   LITIGATION RELEASE NO. 16041 / January 22, 1999

   SEC v. JOSEPH P. MEDSKER, UNIFIED FINANCIAL SERVICES AGENCY CORP., AND
   UNIFIED FINANCIAL SERVICES ADVISORY CORP., Civil Action No. C3-96-381 (
   USDC S.D. Ohio)(December 24, 1998)

   On December 24, 1998, the Commission filed a Motion for Order to Show
   Cause why Joseph P. Medsker (Medsker), as the corporate representative
   of Unified Financial Services Agency Corp. (UFS Agency), should not be
   held in contempt for failing to pay $15,000 on December 2, 1998 as
   required by a December 2, 1997 order.  That order, entered by consent
   against all three defendants, required UFS Agency to pay $65,000 in
   disgorgement over 3 years due to its involvement in a scheme to defraud
   investors and adviser clients.  The order was entered in the underlying
   action filed by the Commission which alleged that Medsker, UFS Agency
   and Unified Financial Services Advisory Corp. (UFS Advisory), a
   registered investment adviser, engaged in a scheme to defraud in
   connection with the offer, purchase and sale of more than $2.2 million
   in unregistered partnership interests and participated in a cover up of
   that scheme.  In addition, the complaint alleged that Medsker churned a
   trading account for one of the partnerships.  Finally, the complaint
   alleged that Medsker and UFS Agency acted as unregistered investment
   advisers and Medsker and UFS Advisory failed to disclose to clients that
   Medsker was previously sanctioned by the National Association of
   Securities Dealers, Inc.  Medsker, UFS Agency and UFS Advisory
   consented, without admitting or denying the allegations of the
   complaint, among other things, to be enjoined from future violations of
   the federal securities laws, and UFS Agency was ordered to pay the
   aforementioned disgorgement, payment of which was guaranteed by UFS
   Advisory.  Civil penalties were not ordered based on the defendants’
   demonstrated inability to pay.  In a related administrative proceeding,
   Medsker was barred from the industry and UFS Advisory was censured and
   required to comply with certain remedial undertakings.