TO: EDITORS, NEWS DIRECTORS

DATE: April 4, 2000

FOR: IMMEDIATE RELEASE

Corporation Commission Issues Order on Findings of Fraud

PHOENIX - The Arizona Corporation Commission has ordered Ronald John Hoover to cease and desist in the fraudulent sale of securities.

According to the Order, Ronald John Hoover, 52, formerly of Scottsdale and now living in Big Water, Utah, was ordered to cease and desist from his sales of unregistered securities. Hoover sold the investments while working with a business called Plus More Trust in Phoenix, Arizona. Hoover sold investments in "private loan contracts," promising investors they would make three to ten percent each month on their money which was supposed to be invested in "medium term notes" issued by European banks. Hoover touted the program as "very much an insider game, thoroughly known and understood by a privileged few." Lowell Robert Taylor of Gilbert, Arizona, and Patrick Robin Hogue, formerly of Scottsdale, Arizona are two other salesmen who who were ordered in earlier actions to cease and desist from offering the same program.

At least 33 investors invested over one million dollars during the time Plus More Trust operated out of its Camelback and 19^th Avenue offices. Those investors received their money back by order of the Commission in a settlement reached last year with WMA Securities, a Georgia dealer responsible for supervising Hoover. WMA, while agreeing to make payment, claimed that the sales of the Plus More Trust program were done outside of its knowledge, an illegal practice known as "selling away."

Mark Sendrow, Director of the Securities Division of the Arizona Corporation Commission, warns investors that any investment program offering large returns through trading notes or financial instruments of European banks is likely to be a fraudulent operation. These so called "prime bank instruments" or "prime bank notes" simply do not exist. "Investment schemes involving a purported connection to 'top European banking institutions' may seem attractive to investors because they involve lucrative international investment deals, from which small investors feel cut off," said Sendrow. "Investors should proceed cautiously when they are promised suspiciously high rates of return or offshore investments in foreign notes. Those are two red flags which should warn investors to steer clear of the so called investment opportunity," Sendrow commented.

"The Arizona Corporation Commission intends to aggressively enforce securities laws to protect the public trust against unscrupulous securities salesmen," stated Arizona Corporation Commission Chairman, Carl J. Kunasek. Commissioner Jim Irvin added: "We just won't tolerate theft by individuals offering bogus investments." Commissioner William Mundell stated that "Arizona will continue to protect investors in this state and wants to send a strong message to deter those who try to exploit its citizens."

The public is urged to investigate before they invest and to contact the Securities Division at (602) 542-4242 or visit the Web site at www.ccsd.cc.state.az.us for more information.