UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     LITIGATION RELEASE NO. 15405 / July 7, 1997 

     SEC v. FELIX, INC. and HILL SAMUEL BANK (JERSEY) LTD., Royal Court of
     Jersey, Samedi Division. 

           The Commission announced that, on July 7, 1997, Deputy Bailiff
     Francis Hamon of the Royal Court of Jersey, Channel Islands, entered an
     Order of Justice freezing certain assets of Felix, Inc. ("Felix").  Felix
     is an off-shore corporation administered in Jersey, Channel Islands, U.K. 
     On July 4, 1997, the Commission filed its complaint against Felix, seeking
     to freeze certain assets and insider trading proceeds it holds on behalf of
     Emanuel Pinez ("Pinez"), the former chairman and chief executive officer of
     Centennial Technologies, Inc. ("Centennial").  

          The Complaint, filed in the Royal Court of Jersey, alleged that Pinez
     engaged in unlawful insider trading through an account in the name of Felix
     as well as in his own account.  According to the Complaint, Felix holds
     approximately $965,000, consisting primarily of the proceeds from its sale
     of Centennial common stock on February 6 and 7, 1997.  The Complaint also
     alleges that those funds were transferred from an account at Lehman
     Brothers, Inc. to an account at Hill Samuel (Jersey) Bank Ltd. ("Hill
     Samuel"), Channel Islands, notwithstanding a February 14, 1997 U.S.
     District Court order prohibiting the release of funds controlled directly
     or indirectly by Pinez.  Hill Samuel, which is not a defendant in this
     case, has been ordered not to allow any transfer or other disposition of
     Felix's funds without the prior written consent of the Commission.
                     
          For further information, please see Litigation Release Nos. 15258,
     15295 and 15399.