UNITED STATES SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No. 16137/ May 11, 1999

               SECURITIES  AND  EXCHANGE  COMMISSION v. DAVID ABRAMSON
               d/b/a   AMERICAN   BRIGHTSTAR   GOLD,   99   CV3438(DB)
               (S.D.N.Y.)

                    The Securities and Exchange Commission today filed
               an action in federal court in Manhattan alleging that a
               New York City man used the Internet  to  offer and sell
               securities  in  a  gold  venture  that  he fraudulently
               promised would generate annual returns of as much as 26
               times the amount invested.

               Named in the Complaint is:

               David Abramson ("Abramson"), d/b/a American  Brightstar Gold
               ("Brightstar"), a resident of New York City.

               The Complaint alleges that:

                    From late 1997 through at least February 1999, Abramson
                    used the internet to make false statements in the offer
                    and  sale  of  investments in Brightstar, a  fraudulent
                    gold venture.  According  to  offering materials posted
                    on  two  websites  by Abramson, each  investor  was  to
                    receive a proportionate  share  of gold that Brightstar
                    would  arrange to have processed from  a  type  of  ore
                    called  magnetite   concentrate.   On  these  websites,
                    Abramson, without any  reasonable basis, projected that
                    Brightstar investors would  receive  gold in quantities
                    equivalent  --  at  then  current market prices  --  to
                    returns ranging from 800 to  2600  percent annually for
                    ten years.

                    On   the   Brightstar   websites,   Abramson    falsely
                    represented that Brightstar had a ten-year contract for
                    the supply of a "gold rich" magnetite concentrate.  The
                    websites also falsely stated that Brightstar would  use
                    a  proprietary  processing technology that would enable
                    it to deliver gold  to  investors "at a fraction of its
                    market value."

                    Abramson   raised   at  least   $50,000   through   his
                    solicitations.  When  he  solicited  these investments,
                    Abramson knew, or was reckless in not knowing, that the
                    representations on the Brightstar websites  were  false
                    and misleading.

               In  its  Complaint,  the  Commission  alleges  that Abramson
               violated the antifraud provisions of the federal  securities
               laws,  Section  17(a)  of  the  Securities Act of 1933,  and
               Section 10(b) of the Securities Exchange  Act  of  1934  and
               Rule  10b-5  thereunder.   The  Commission seeks a permanent
               injunction  against  future violations  of  those  antifraud
               provisions, an accounting,  disgorgement  of Abramson's ill-
               gotten gains plus prejudgment interest, and civil penalties.

               The litigation is pending.