SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     SECURITIES EXCHANGE ACT OF 1934
     RELEASE NO. 38695 / May 30, 1997 

          The Securities and Exchange Commission announced the temporary
     suspension, pursuant to Section 12(k) of the Securities Exchange Act of
     1934 (the "Exchange Act"), of over-the-counter trading of the securities of
     Amquest International, Ltd. ("Amquest" or the "Company"), of Ft.
     Lauderdale, Florida at 9:30 a.m. EDT, on May 30, 1997, and terminating at
     11:59 p.m. EDT on June 12, 1997.

          The Commission temporarily suspended trading in the securities of
     Amquest because of questions that have been raised about the accuracy and
     adequacy of publicly disseminated information concerning, among other
     things, Amquest's ownership of certain Brazilian  Rights  and other assets,
     the value of certain assets claimed by Amquest, the amount of income, if
     any, Amquest has generated, the acquisition by Amquest of certain entities,
     and the composition and involvement in Company affairs of Amquest s
     purported management.

          The Commission cautions broker-dealers, shareholders, and prospective
     purchasers that they should carefully consider the foregoing information
     along with all other currently available information and any information
     subsequently issued by the company.

          Further, brokers and dealers should be alert to the fact that,
     pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the
     trading suspension, no quotation may be entered unless and until they have
     strictly complied with all of the provisions of the rule.  If any broker of
     dealer has any questions as to whether or not he has complied with the
     rule, he should not enter any quotation but immediately contact the staff
     of the Securities and Exchange Commission in Washington, D.C.  If any
     broker or dealer is uncertain as to what is required by Rule 15c2-11, he
     should refrain from entering quotations relating to Amquest s securities
     until such time as he has familiarized himself with the rule and is certain
     that all of its provisions have been met.  If any broker or dealer enters
     any quotation which is in violation of the rule, the Commission will
     consider the need for prompt enforcement action.

          If any broker-dealer or other person has any information which may
     relate to this matter, the Miami, Florida office of the Securities and
     Exchange Commission should be telephoned at (305) 982-6369.









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