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SECURITIES EXCHANGE ACT OF 1934

RELEASE NO. 38382 / March 11, 1997

ADMINISTRATIVE PROCEEDING FILE NO. 3-9270 

     The  United  States   Securities  and  Exchange   Commission
("Commission") has instituted administrative proceedings pursuant
to Sections 15(b)  and 19(h)  of the Securities  Exchange Act  of
1934  ("Exchange  Act") against  Jon  D.  Aldrich ("Aldrich")  of
Palmetto, Florida  to determine what remedial  sanctions, if any,
should be  imposed  against him.    Aldrich was  associated  with
Premier  Financial Services, Inc., an unregistered broker-dealer,
as its principal and sole director.  The Order Instituting Public
Administrative Proceedings  alleges that  on October 11,  1995, a
final  judgment  of  permanent  injunction  was  entered  against
Aldrich  in  connection  with   a  civil  action  filed  by   the
Commission, enjoining  him  from violating  the registration  and
anti-fraud provisions of the federal securities  laws.  A hearing
will  be scheduled to determine what  remedial sanctions, if any,
should be imposed against Aldrich.