FOR IMMEDIATE RELEASE                                      99-169

Washington, DC, December 13, 1999

                      Media Advisory
                             
   Media Briefing on Selective Disclosure and Corporate
                     Governance Rules
                             
          What: The Securities and Exchange Commission will
                conduct a media briefing tomorrow to discuss
                the items that will be considered at its open
                meeting on Wednesday, December 15, 1999.  The
                briefing will be conducted by General Counsel
                Harvey Goldschmid and Chief Accountant Lynn
                Turner.  The items are:
                
                *  proposed new rules to address three
                   issues:  (a) the selective disclosure by
                   issuers of material nonpublic information;
                   (b) whether insider trading liability
                   requires "use" or "knowing possession" of
                   material nonpublic information; and (c) when
                   a family or other non-business relationship
                   gives rise to liability under the
                   misappropriation theory of insider trading.
                             
                
                *  adoption of new rules and amendments to
                   its current rules to improve disclosure
                   relating to the functioning of corporate
                   audit committees and to enhance the
                   reliability and credibility of financial
                   statements of public companies.
                
          When: Tuesday, December 14, 1999
                4:30 p.m. EST
                
         Where: Securities and Exchange Commission
                450 5th Street, NW
                Washington, DC
                Closed Commission Meeting Room (Room 6600)
                (Call x0020 at guard desk for admittance.)
                
Teleconference: Please call (202) 942-0020 for the
                teleconference number.
                
       Embargo: Information provided at the briefing is
                embargoed until the Commission votes on
                Wednesday, December 15, 1999 at approximately
                11:00 a.m. EST.
                
         Other: Credentialed media only; pen and pad only; no
                cameras.
                             
                             
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