SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     SECURITIES EXCHANGE ACT OF 1934
     RELEASE NO. 38691 / May 29, 1997

     ACCOUNTING AND AUDITING ENFORCEMENT
     RELEASE NO.   919 / May 29, 1997
      
     Administrative Proceeding File No. 3-9322

     ADMINISTRATIVE PROCEEDINGS IN THE MATTER OF COMBINED COMPANIES
     INTERNATIONAL CORP.

          The Securities and Exchange Commission today announced the institution
     of administrative proceedings pursuant to Section 12(j) of the Securities
     Exchange Act of 1934 ("Exchange Act") against Combined Companies
     International Corp. ("CCIC"), of Las Vegas, Nevada.  The purpose of the
     proceedings is to determine whether CCIC violated provisions of the
     Exchange Act, and to determine whether the registration of CCIC's
     securities should be revoked.

          The Division of Enforcement ("Division") alleges that CCIC has
     violated Section 13(a) of the Exchange Act, and Rules 12b-25, 13a-1 and
     13a-13, by not filing: (i) an Annual Report on Form 10-K for its fiscal
     year ended December 31, 1996; (ii) a Quarterly Report on Form 10-Q for the
     quarter ended September 30, 1996; (iii) a Quarterly Report on Form 10-Q for
     the quarter ended June 30, 1996; and (iv) Notifications of Late Filing with
     respect to any of its delinquent required reports. 

          The Division also alleges that on March 11, 1997, CCIC's independent
     auditor, Merle S. Finkel ("Finkel"), withdrew the audit reports he issued
     on CCIC's financial statements for its fiscal years ended December 31,
     1992, December 31, 1993, December 31, 1994, and December 31, 1995,
     notifying CCIC that the audit reports "should not be relied upon." 
     According to the Division, CCIC has failed to amend its prior filed annual
     reports on Form 10-K to include audited financial statements, in violation
     of Section 13(a) of the Exchange Act and Rule 13a-1.  

          A hearing will be scheduled to take evidence on the Division's
     allegations, to afford CCIC the opportunity to establish defenses to these
     allegations, and to determine whether CCIC's registration statement on Form
     10, as amended, should be revoked.

          On May 19, 1997, the Commission ordered the temporary suspension,
     pursuant to Section 12(k) of the Exchange Act, of trading in the securities
     of CCIC, which concludes at 11:59 p.m. EDT on June 2, 1997. The Commission
     ordered this trading suspension because of questions raised as to the
     adequacy and accuracy of publicly-disseminated information concerning,
     among other things: (1) assets reported on CCIC's financial statements,
     which were included in a registration statement and periodic reports filed
     with the Commission; (2) the lack of audited financial statements included

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     in a registration statement and periodic filings of CCIC; (3) the failure
     by CCIC to make required periodic and other filings with the Commission;
     and (4) the market for the securities of CCIC.  The Commission determined
     that the public interest and the protection of investors requires a
     suspension of trading in CCIC securities.  See Securities Exchange Act Rel.
     No. 38653 (May 19, 1997).

          On March 12, 1997, the Commission filed a Complaint in the United
     States District Court for the District of Columbia against Merle S. Finkel. 
     The Complaint alleges that Finkel issued materially false and inaccurate
     audit reports on the financial statements of CCIC and two other publicly-
     traded companies, Systems of Excellence, Inc. and Twenty First Century
     Health, Inc.  Finkel withdrew all of the audit reports he issued for these
     three companies.  Finkel, without admitting or denying the allegations of
     the Complaint, consented to the entry of a permanent injunction and a
     Commission order pursuant to Rule 102(e) of the Commission's Rules of
     Practice denying him the privilege of appearing or practicing before the
     Commission as an accountant.  Finkel also pleaded guilty to a one-count
     criminal information charging him with conspiracy to commit securities
     fraud and bank fraud in connection with a scheme involving the creation of
     false financial reports on behalf of CCIC, TFCH and EMS Products
     International Corporation.   See SEC v. Merle S. Finkel, Lit Rel. 15286
     (March 12, 1997).  






























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