Issue 98-233 December 4, 1998 INVESTMENT COMPANY ACT RELEASES NIKE SECURITIES L.P., ET AL. An order has been issued on an application filed by Nike Securities L.P. and First Trust Special Situations Trust (Trust) for an exemption from Section 17 (a) of the Investment Company Act. The order permits a terminating series of the Trust to sell portfolio securities to a new series of the Trust. (Rel. IC-23583 -December 2 WESTERN-SOUTHERN LIFE ASSURANCE COMPANY, ET AL. A notice has been issued giving interested persons until December 28 to request a hearing on an application filed by Western-Southern Life Assurance Company, The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company Separate Account 1, Western-Southern Life Assurance Company Separate Account 2, and The Western and Southern Life Insurance Company Separate Account A seeking an order pursuant to Section 26 (b) of the Investment Company Act approving certain proposed substitutions of securities, and pursuant to Section 17 (b) of the Act exempting related transactions from Section 17 (a) of the Act. (Rel. IC-23584 - December 2) KBK FINANCIAL, INC ., ET AL . An order has been issued on an application filed by KBK Financial Inc. (Financial) and its wholly-owned subsidiary, KBK Receivables Corporation (Subsidiary), for an exemption from Sections 2 (a)(48) and 55 (a) of the Investment Company Act. The order permits Financial, which will elect to be regulated as a business development company (BDC) under the Act, to look to the Subsidiary's assets, rather than Financial's interest in the Subsidiary itself, in determining whether Financial meets certain requirements for BDCs under the Act. (Rel. IC-23585 - December 2) CREDIT SUISSE FIRST BOSTON CORPORATION A notice has been issued giving interested persons until December 28 to request a hearing on an application filed by Credit Suisse First Boston Corporation (CSFB) for an order under Section 12 (dl (1)(J) of the Investment Company Act exempting SAILS trusts for which CSFB will serve as a principal underwriter (Trusts) from Section 12 (dl (1) of the Act; under Section 6(c) of the Act exempting the Trusts from Section 14 (a) of the Act; and under Section 17(b) of the Act exempting CSFB and the Trusts from Section 17 (a) of the Act. The requested order would permit other registered investment companies, and companies excepted from the definition of investment company under Section 3(c) (1) or (c)(7) of the Act, to own a greater percentage of the total outstanding voting stock (Securities) of each Trust than that permitted by Section 12(d) (1); exempt the Trusts from the initial net worth requirements of Section 14 (a); and permit the Trusts to purchase U.S. government securities from CIBC at the time of a Trust's initial issuance of Securities. (Rel. IC- 23586 - December 2) - - SELF-REGULATORY ORGANIZATIONS ACCELERATED APPROVAL OF PROPOSED RULE CHANGES The Commission granted accelerated approval to a proposed rule change submitted by the Chicaso Stock Exchanqe (SR-CHX-98-26)under Section 19(b) (1) of the Securities Exchange Act of 1934 relating to listing standards for Equity Linked Debt Securities. Publication of the proposal is expected in the Federal Resister during the week of December 7. (Rel. 34-40730) The Commission granted accelerated approval to a proposed rule change submitted by the National Securities Clearinq Corporation (SR-NSCC-98-10)under Section 19 (b) (2) of the Securities Exchange Act of 1934. The rule change adds an interactive messaging feature to NSCC1s Collateral Management Service. (Rel. 34-40740) PROPOSED RULE CHANGE The Pacific Exchanse filed a proposed rule change (SR-PCX-98-55)to clarify its rules on the automatic execution of option orders when the PCX market and the market of a competing exchange are crossed or locked. Publication of the proposal is expected in the Federal Resister during the week of December 7. (Rel. 34-40734) IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE A proposed rule change (SR-PCX-98-56)filed by the Pacific Exchanse relating to ASAP Members1 access to OptiMark has become effective under Section 19 (b)(3) (A) of the Securities Exchange Act of 1934. Publication of the proposal is expected in the Federal Resister during the week of December 7. (Rel. 34-40739) SECURITIES ACT REGISTRATIONS \ The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears 2 NEWS DIGEST, December 4, 1998 as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: <public info @ set>. In most cases, this information is also available on the Commission's website: <www.sec.gov>. 5-4 XOMA ARIZONA INC, 2910 SEVENTH ST, BERKELEY, CA 94710 (5121 644-1170 - 49,009,985 ($178,426.976.64) COMMON STOCK. (FILE 333-68045 - NOV. 27) (BR. 1 - NEW ISSUE) S-3 SNYDER COMMUNICATIONS INC, 6903 ROCKLEDGE DR 15TH FL, TWO DEMOCRACY CENTER, BETHESDA, MD 20817 (301) 468-1010 - 3,425,610 ($119,468,149)COMMON STOCK. (FILE 333-68049 - NOV. 27) (BR. 8) S-1 VERTICALNET INC, 2 WALNUT GROVE DR. SUITE 150, HORSHAM, PA 19044 (215) 328-6100 (FILE 333-68053 - NOV. 27) (BR. 2) S-8 SDC INTERNATIONAL INC \DE\, 2065 MONTGOMERY ST, FORT WORTH, TX 76107 (561) 882-9300 - 500,000 ($1,250,000)COMMON STOCK. (FILE 333-68055 - NOV. 271 (BR. 9) S-1 MODEM MEDIA POPPE TYSON INC, 228 SAUGArUCK AYE, WESTPORT, CT 06880 (203) 291-5200 (FILE 333-68057 - NOV. 27) (BR. 8) S-8 NORSTAN INC, 605 N HIGHWAY 169, 12TH FL, PLYMOUTH, MN 55441 (612) 420-1100 - 1,200,000 ($19,200,000) COMMON STOCK. (FILE 333-68059 - NOV. 27) (BR. 7) RECENT 8K PILINGS Form 8-K is used by companies to file current reports on the following events: Item 1. Changes in Control of Registrant. Item 2. Acquisition or Disposition of Assets. Item 3. Bankruptcy or Receivership. Item 4. Changes in Registrant's Certifying Accountant. Item 5. Other Materially Important Events. Item 6. Resignat'ions of Registrant's Directors. Item 7. Financial Statements and Exhibits. Item 8. Change in Flscal Year. Item 9. Regulation S Offerings. The following companies have filed 8-K reports for the date indicated and/or amendments to 8-K reports previously flied,-responding to the item(s) of the form specified. 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: cpublic info @ set>. In most cases, this information is also available on the Commission's website: cmnr.sec.qov>. NEWS DIGEST, December 4, 1998 STATE BK ImNo. NAME OF Is.StnIK CODE 1234 567 8 9 DATE CCXWWT .......................................................................... ABN AMRO MORTGAGE CORP DE X 10/27/98 AMEND ACCESS ANYTIME BANCORP INC DE x 12/01/98 ADVANTA MORTGAGE CONDUIT SERVICES I DE X X 11/30/98 NC ADVANTA MORTGAGE CONDUIT SERVICES I DE X X 11/30/98 NC ADVANTA MORTGAGE LOAN TRUST 1997-4 NY X X 11/30/98 ADVANTA MORTGAGE LOAN TRUST 1998-1 NY X X 11/30/98 ADVANTA MORTGAGE LOAN TRUST 1998-3 NY X X 11/30/98 ADVANTA REVOLVING HOME EQUITY LOAN DE X X 11/30/98 TRUST 1998-A ALLIANCE BANCORP OF NEW ENGLAND INC X X 12/02/98 ALLIN COMMUNICATIONS CORP DE X 08/13/98 AMEND ALLIN COMMUNICATIONS CORP DE X 09/30/98 AMEND ALLMERICA FINANCIAL CORP DE X X 12/03/98 ALLTEL CORP DE X 12/02/98 AMB PROPERTY CORP MD X X 12/02/98 AMB PROPERTY LP DE X X 12/02/98 AMERICA FIRST APARTMENT INVESTORS L DE X 09/18/98 AMEND P AMERICAN VANTAGE COMPANIES NV X X 11/12/98 AMETEK INC/ DE X 12/03/98 APPLE RESIDENTIAL INCOME TRUST INC VA X X 12/02/98 APPLIED MAGNETICS CORP DE X X 11/24/98 AQUAGENIX INC/DE DE X 11/20/98 AQUAPENN SPRING WATER COMPANY INC PA X 12/02/98 ARCADIA RECEIVABLES FINANCE CORP DE X 11/19/98 ARCHIBALD CANDY CORP IL X X 11/30/98 ARGO BANCORP INC /DE/ DE X X 12/03/98 ARGOSY GAMING co DE x 12/01/98 ARIZONA PUBLIC SERVICE CO AZ X 12/01/90 ARONEX PHARMACEUTICALS INC DE x x 11/12/98 ASSET BACKED SECURITIES CORP DE x x ll/30/98 ATLANTIC TELE NETWORK INC /DE DE X 09/30/98 BA MORTGAGE SECURITIES INC/ DE X 11/20/98 BANKERS TRUST CORP NY x x 12/02/98 BARTON BEERS LTD MD X 11/03/98 BARTON BRANDS LTD /DE/ DE X 11/03/98 BARTON BRANDS OF CALIFORNIA INC CT X 11/03/98 BARTON BRANDS OF GEORGIA INC GA x 11/03/98 BARTON DISTILLERS IMPORT CORP NY X 11/03/98 BARTON FINANCIAL CORP DE X 11/03/98 BARTON INC DE X 11/03/98 BATAVIA WINE CELLARS INC NY X 11/03/98 BAXTER INTERNATIONAL INC DE X X 11/17/98 BCSB BANKCORP INC X X 11/25/98 BIG FLOWER PRESS HOLDINGS INC /PRED DE x x 12/01/98 / BIOFIELD CORP \DE\ DE X X 11/24/98 BRADLEES INC MA X X 12/02/90 BROTHERS GOURMET COFFEES INC DE x x ll/20/98 BRUNNER COMPANIES INCOME PROPERTIES DE X X 12/03/98 LP I BRUNNER COMPANIES INCOME PROPERTIES DE X X 12/03/98 LP I11 BUSINESS RESOURCE GROUP CA x 12/01/98 CAMBRIDGE TECHNOLOGY PARTNERS MASSA DE X 12/01/98 CHUSETTS INC CANANDAIGUA BRANDS INC DE X 11/03/98 NEWS DIGEST, December 4, 1998 STATE 8K ImNO.