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NASD's Investor Alert, Beware of Stock Fraud in the Wake of Hurricane
Katrina, explains how investors can spot and protect themselves from
investment scams associated with the clean-up or rebuilding of the devastated
areas and those that purport to take advantage of refinery issues and the
rising cost of oil and gas. Schapiro.

) to fool people into believeing the degrees are of value.

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stock
exchanges.

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NASD touches virtually every aspect of the securities business -- from
registering and educating all industry participants, to examining securities
firms, enforcing both NASD rules and the federal securities laws, and
administering the largest dispute resolution forum for investors and
registered firms.m.

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The new report being released at the
press conference is the result of a three-day brainstorming retreat attended
by leaders in consumer advocacy, financial services, technology companies, and
government agencies.

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"The best way for investors to avoid these potential scams is to
rely on more than unsolicited information when making investment decisions. Instead, they are quoted on markets like the Pink Sheets, where
there are no minimum quantitative standards that must be met by a company.org.

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One example includes a fax claiming that Katrina
would mean a "massive run up" in the company's stock "as demand to repair
homes skyrockets.

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The Investor Alert recommends investors take the time to
investigate before investing . The Alert also suggests
investors find out where the stock trades, since most unsolicited fax and spam
recommendations involve stocks that can't meet the listing requirements of The
Nasdaq Stock Market, the New York Stock Exchange, or other U.nasd. National Consumers League, First Data Corp.

Phishing is when people are tricked into providing
their bank account numbers, Social Security numbers , and other personal
information by identity thieves posing as legitimate companies, government
agencies , or other trusted entities.

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" The fax went on to urge investors to act quickly
because the stock was undervalued. For more information, please visit our Web site at
http://www.com. 116

About NCL
The National Consumers League, founded in 1899, is America's pioneer
consumer organization.

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on Thursday, March 16

CONTACT: Mark Fernando, National Consumers League at 202-835-3323,
ext.

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WHO: Susan Grant, Vice President of Public Policy, the National
Consumers League and Director, National Fraud Information
Center /Internet Fraud Watch
Doug Johnson, Senior Policy Analyst, American Bankers
Association
Barbara Span, Vice President Public Affairs, First Data
Corporation
Frank Torres, Director of Consumer Affairs, Microsoft

WHAT: Press conference to announce new multi-group action plan for
fighting phishing scams. Our mission is to protect and promote social and
economic justice for consumers and workers in the United States and abroad.nclnet.

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"
NASD's Alert exposes these scams and teaches investors how to protect
themselves.S.

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NASD Issues Alert Warning Investors of Stock Fraud after Katrina

NASD has
distributed this information through its Web site, printed materials and
Investor Forums.

UPDATE: Advocates Corporations Government Unite Against Phishing Scams to Issue 'Call for Action ' at 3/16 Press Conference

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Category for sites that educate visitors about the issue of diploma mills which are institutions that grant degrees based upon payment only although they may use the language of higher education (accredited, alternative or distance education, etc.

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Investors are warned not to rely solely on the
information in a fax or e-mail because these messages often come from
corporate insiders who are paid to promote the stock. Speakers will explore the Internet Fraud Battlefield,
demonstrate how phishing scams are perpetrated against consumer victims, and
announce their new Action Plan to curb the scam.

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NASD is the leading private-sector provider of financial regulatory
services , dedicated to bringing integrity to the markets and confidence to
investors through effective and efficient regulation and complementary
compliance and technology-based services.

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NASD offers a broad range of tools
and programs to help people better understand investing and know how to
protect themselves along the way -- including developing and publishing
Investor Alerts, brochures and online resource guides on such critical topics
as mutual fund class shares and 401(k) and college savings plans., Microsoft, American Bankers
Association, American Express, and Others to Release Recommendations for
Fighting Widespread Scams Against Consumers

WASHINGTON , The National Consumers League (NCL)
will hold a press conference next week to issue its "Call for Action" against
phishing, a large and growing problem that threatens consumer confidence in
conducting business online.
For more information, visit http://www.

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WHERE: The National Press Club
West Ballroom
529 14th Street NW, 13th Floor

WHEN: 10:00 a.

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WASHINGTON, NASD issued an Investor Alert today
warning investors to beware of scams -- typically promoted through unsolicited
faxes and emails -- promising huge financial gains in the wake of Hurricane
Katrina." Citing the enormous cleanup costs associated with the
hurricane, the fax stated, "So, you can see, any company that gets a tiny
slice -- even one percent -- of this business could add a minimum of $260
million to its bottom line.
"All too often, after disasters like Katrina, scam artists exploit
investment opportunities to defraud investors," said NASD Vice Chairman Mary
L.

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