SECURITIES AND EXCHANGE COMMISSION
                                    Washington, DC

             Litigation Release No. 15802 / July 8, 1998

             SECURITIES AND EXCHANGE COMMISSION v. LATIN AMERICAN
             RESOURCES, INC., JOHN B. LOWY AND HAROLD J. GLASBAND, United
             States District Court for the Eastern District of New York,
             Civil Action No.CV98 4605 (E.D.N.Y.  July 8, 1998)

             The Securities and Exchange Commission today filed suit
             seeking injunctive relief against Latin American Resources,
             Inc. ("LARI"), John B. Lowy, a principal stockholder of LARI
             who also served as counsel to the company, and Harold J.
             Glasband, Chief Financial Officer and a director of LARI.
             The Commission's Complaint alleges that LARI, the corporate
             successor of Security Asset Management International, Inc.
             ("SAMI"), Lowy and Glasband violated the antifraud
             provisions of the Securities Exchange Act of 1934 (the
             "Exchange Act") by knowingly or recklessly making material
             misstatements in an October 1993 Information Statement filed
             with the National Association of Securities Dealers, Inc. by
             a New York brokerage firm, and a July 1994 Registration
             Statement filed by LARI with the Commission.

             According to the Complaint, the principal misstatements
             contained in these documents were LARI's false claims that
             it owned certain Brazilian agricultural plantations,
             properties that comprised approximately 95% of LARI's assets
             at the time of LARI's false filings.  These properties were
             purportedly acquired in a series of transactions by SAMI,
             and LARI claimed to have acquired the assets as SAMI's
             corporate successor.  The Complaint alleges that LARI could
             not own the plantations under Brazilian law, never owned
             them, and dramatically overstated the value of these
             Brazilian properties.  The Complaint further alleges that
             Lowy, who was the president and a director of SAMI, was
             chiefly responsible for negotiating the purported Brazilian
             transactions, and that Glasband, also a SAMI officer and
             director, participated in carrying out the purported
             acquisitions.  The Complaint alleges that Lowy and Glasband
             became aware of information which indicated that there were
             infirmities in the purported title to the Brazilian
             plantations and material inaccuracies in their valuations.
             According to the Complaint, Lowy and Glasband knew, or were
             reckless in not knowing, that the Information Statement and
             Registration Statement for which they provided information
             were materially false and misleading because, among other
             things, they misrepresented the ownership of the Brazilian
             plantations and materially overstated the value of these
             assets, properties said to be worth in excess of $50
             million.

             Additionally, the Complaint alleges that LARI violated the
             Exchange Act's annual and quarterly reporting requirements
             and its requirements that issuers maintain proper books and
             records and internal accounting controls; that Lowy and
             Glasband directly or indirectly falsified, or caused to be
             falsified, LARI's books and records; and that Glasband made
             false and misleading statements and omitted, or caused
             others to omit, to state material facts to LARI's accountant
             in connection with the audit of LARI's financial statements
             attached to the Form 10-SB.

             The Complaint seeks Final Judgments enjoining:  (a) LARI
             from future violations of Exchange Act Sections 10(b),
             13(a), 13(b)(2)(A) and 13(b)(2)(B), as well as Rules 10b-5,
             12b-20, 13a-1 and 13a-13 thereunder; (b) Lowy from future
             violations of Exchange Act Section 10(b) and Rules 10b-5 and
             13b2-1 thereunder; and (c) Glasband from future violations
             of Exchange Act Section 10(b) and Rules 10b-5,
             13b2-1 and 13b2-2 thereunder.  In addition, the Complaint
             seeks civil penalties against Lowy and Glasband.  With the
             filing of the Complaint, LARI and Glasband consented to the
             entry of Final Judgments against them permanently
             restraining and enjoining them from violating the Exchange
             Act provisions described above; Glasband also consented to
             the imposition of a $25,000 civil penalty.  LARI and
             Glasband consented to the entry of the Final Judgments
             without admitting or denying the Complaint's allegations.

             On August 1, 1994, the Commission suspended trading in
             LARI's securities for a ten-day period pursuant to Section
             12(k) of the Exchange Act (Exchange Act Release No. 34467).

             In an earlier proceeding, LARI's former auditor, Dennis
             Klein, consented to a Commission Order denying him the
             privilege of practicing before the Commission as an
             accountant (In the Matter of Dennis Klein, C.P.A., Exchange
             Act Release No. 38844, Accounting and Auditing Enforcement
             Release No. 937, July 17, 1997).