FOR IMMEDIATE RELEASE                             98-44


Washington, DC, May 4, 1998


                 SEC, OCC, and NASDR to Announce
                 Significant Enforcement Action

What: The Securities and Exchange Commission, the Office of the
      Comptroller of the Currency, and the NASDR will conduct a
      news conference to announce a significant enforcement
      action.

When: TODAY!!  Monday, May 4, 1998; 11:00 a.m.

Where:Securities and Exchange Commission, 450 Fifth Street, NW,
      Washington, DC,
      Room 1C30

Teleconference:     Call:  212.346.0368

Participants:

     Arthur Levitt, Chairman, Securities and Exchange Commission
     Julie Williams, Acting Comptroller, Office of the
             Comptroller of the Currency
     Mary Schapiro, President, NASDR
     Richard Walker, Director Designate, Division of Enforcement,
     Securities and Exchange Commission



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