SECURITIES AND EXCHANGE COMMISSION

     17 CFR Part 230

     [Release No. 33-7476; File No. S7-22-97]

     RIN:  3235-AH23

     Equity Index Insurance Products

     AGENCY:  Securities and Exchange Commission

     ACTION:  Concept release; extension of comment period.

     SUMMARY:  The Commission is extending from November 20, 1997, to January 5,

     1998, the comment period for Securities Act Release No. 7438 (Aug. 20,

     1997), 62 FR 45359 (Aug. 27, 1997).  This release requested public comment

     on the structure of equity index insurance products, the manner in which

     they are marketed, and any other matters the Commission should consider in

     addressing federal securities law issues raised by equity index insurance

     products.

     DATES:  Comments must be received on or before January 5, 1998.

     ADDRESSES:  Comments should be submitted in triplicate to Jonathan G. Katz,

     Secretary, Securities and Exchange Commission, 450 Fifth Street, N.W.,

     Washington, D.C. 20549-6009.  Comments also may be submitted electronically

     at the following E-mail address: rule-comments@sec.gov.  All comment

     letters should refer to File No. S7-22-97; this file number should be

     included on the subject line if E-mail is used.  All comments received will

     be available for public inspection and copying in the Commission s Public

     Reference Room, 450 Fifth Street, N.W., Washington, D.C. 20549-6009. 

     Electronically submitted comments will also be posted on the Commission s

     internet site (http://www.sec.gov).

     FOR FURTHER INFORMATION CONTACT:  Megan L. Dunphy, Attorney, (202) 942-


                              ======END OF PAGE 1======




     0670, Office of Insurance Products, Division of Investment Management,

     Securities and Exchange Commission, 450 Fifth Street, N.W., Mail Stop 10-6,

     Washington, D.C. 20549-6009.

     SUPPLEMENTARY INFORMATION:  On August 20, 1997, the Commission issued a

     concept release soliciting comment on the structure of equity index

     insurance products, the manner in which they are marketed, and any other

     matters the Commission should consider in addressing federal securities law

     issues raised by equity index insurance products. <(1)>  The Commission

     requested that comments on the release be received by November 20, 1997. 

          In a letter dated November 3, 1997, the American Council of Life

     Insurance  ( ACLI ) requested a 45-day extension of time within which to

     comment on the concept release.<(2)>  The ACLI requested the extension to

     provide an opportunity for careful analysis and constructive comment on the

     release.  

          To permit additional time for careful analysis and constructive

     comment, and in light of the importance of comments on this subject, the

     Commission believes that a 45-day extension of the comment period is

     appropriate.  Therefore, the comment period for responding to Securities

     Act Release No. 7438 is extended to January 5, 1998.



     By the Commission.



                                             Jonathan G. Katz
                                             Secretary

                              

          <(1)>    Securities Act Rel. No. 7438 (Aug. 20, 1997) [62 FR 45359 (Aug. 27, 1997)].


                 <(2)>  Letter from Carl B. Wilkerson, Senior Counsel, American
          Council of Life Insurance, to Jonathan G. Katz, Secretary, U.S.
          Securities and Exchange Commission (Nov. 3, 1997).

                              ======END OF PAGE 2======




     November 17, 1997























































                              ======END OF PAGE 3======