FOR IMMEDIATE RELEASE                                  98-49

                                        Press contact:
                                Chris Ullman (202)  942-0020

   SEC Library to be Dedicated to the Memory of Louis Loss
Friends and relatives gather to remember the late "father of
                       securities law"
                              
     Washington, D.C., May 11, 1998 --  In memory of Louis
Loss, widely considered the intellectual father of
securities law, the U.S. Securities and Exchange Commission
will rename its library the Louis Loss Library.

     Mr. Loss joined the SEC as a staff lawyer in 1937,
three years after the agency was founded.  He served as
Chief Counsel of the Division of Trading and Exchanges from
1944 to 1948, and became Associate General Counsel in 1948.
He remained in that position until leaving the SEC in 1952.

     Mr. Loss is the author of the 11-volume treatise
"Securities Regulation."  This treatise, long considered the
definitive word on the subject, distinguishes Loss as a
giant of legal scholarship.  His work has been cited in more
than 1,000 court decisions, including more than 50 by the
U.S. Supreme Court.

     "Louis Loss was among the most admired individuals ever
to serve at the U.S. Securities and Exchange Commission,"
said SEC Chairman Arthur Levitt.  "Through his scholarship,
diligence, and comprehensive understanding of the logic
within the law, he has become one of the icons of SEC
history.  Renaming our library in Louis Loss's memory will
help preserve his legacy as a model of legal scholarship and
civic commitment."

     Following his tenure at the SEC, Mr. Loss joined the
faculty at Harvard Law School.  He served as Professor of
Law from 1952 to 1962 and William Nelson Cromwell Professor
of Law from 1962 to 1984.  He became William Nelson Cromwell
Professor of Law, Emeritus in 1984.  Among his many students
during those years were U.S. Supreme Court Justices Kennedy,
Ginsburg, Scalia, and Souter.

     The naming ceremony and reception will take place on
Tuesday, May 12, 1998 at 4:30 p.m. in room 1C30 of the SEC.
Speakers at the ceremony include SEC Chairman Arthur Levitt;
former SEC Commissioner A. A. Sommer, Jr.; former SEC
Associate General Counsel Milton Kroll; Dean of the
University of Arizona College of Law and co-author of the
third edition of "Securities Regulation" Joel Seligman; and
Margaret Loss, Louis Loss's daughter.

     Members of the press are welcome to attend.
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