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OHIO DEPARTMENT OF COMMERCE OBTAINS PRELIMINARY INJUNCTION

AGAINST D. GERALD LACH AND SEVERAL ENTITIES HE OPERATES

Order Prohibits Lach And Companies

From Selling Securities And Misrepresenting Investments

Clermont County Common Pleas Court Judge Jerry McBride issued a preliminary injunction today against D. Gerald Lach and several entities that he operates. A preliminary injunction hearing was scheduled for today before Judge McBride, but was unnecessary when the defendants consented to the issuance of the preliminary injunction.

The preliminary injunction prohibits the illegal sale of securities by Lach and various entities including Community Concerned Citizens, Inc. ("CCC"), Storehouse: Malachi 3:10, Inc., ("Storehouse"), Cincinnati Regional Initiative, Inc. ("CRI"), Western Regional Authority, Midwest Regional Authority, Inc., ("MRA") and Golden Age Development Corporation.

"I am very pleased that Judge McBride issued the preliminary injunction in order to protect the hundreds of individuals who have invested approximately $2 million in these companies," said Debbie Dye Joyce, Ohio’s Acting Securities Commissioner.

To obtain the preliminary injunction, the Division of Securities and the Attorney General’s Office were prepared to present evidence that Lach sold securities that were not properly registered or exempt from registration under Ohio law. The State was also prepared to present evidence that Lach misrepresented the nature of the investments, including the value, expected return and associated risks.

On May 12, 2000, Judge McBride issued a temporary restraining order against Lach and various entities and appointed Cincinnati attorney Robert F. Brown, of the Rendigs, Fry, Kiely & Dennis law firm, as receiver to take control of the assets of Lach and related entities.

Acting Commissioner Joyce encouraged Ohio residents who may have invested with D. Gerald Lach or one of his entities to telephone the Ohio Investor Protection Hotline at 1-800-788-1194 if they believe they have information which may assist the Division's investigation. They may also call the hotline if they have questions regarding their investment or the Division's investigation.

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