FOR IMMEDIATE RELEASE                        2001-109


  SEC Commissioner Laura S. Unger Announces Plans to Leave
                         Commission

     Washington, D.C., October 9, 2001 -- Securities and
Exchange Commission Commissioner Laura S. Unger today
announced that she plans to leave the Commission this fall
after almost a decade and a half of public service.  Ms.
Unger has not yet accepted a position in the private sector.
     
     Since her appointment to the SEC, Ms. Unger has
strongly advocated policies to promote market integrity,
efficiency and investor protection, with a particular
emphasis on the impact of technology on the securities
industry.  In November 1999, she authored a ground-breaking
report on technology and retail brokerage, "Online
Brokerage: Keeping Apace of Cyberspace."
     
     While serving as Acting Chairman for the earlier half
of this year, Ms. Unger led the Commission's efforts to
improve the objectivity and independence of securities
analysts.  She also championed pending legislation to reduce
securities transaction fees while raising SEC employee
salaries to levels comparable to other financial regulatory
agencies.
     
     "It has been a great honor to serve on the Commission
during the most dramatic period of technological innovation
and transformation in the history of America's capital
markets," Ms. Unger said.  "I was privileged to return to
the agency where I began my career, to serve as a
Commissioner and later as Acting Chairman.  Although it is
particularly difficult to leave my colleagues on the
Commission -- our new Chairman, Harvey Pitt and my fellow
Commissioner, Isaac Hunt -- as well as the many dedicated
and talented professionals who work tirelessly at the SEC on
behalf of the investing public, it is time for me to seek
new challenges in the private sector."
     
     Harvey Pitt said, "I have known and admired Laura for
many years.  Long before she became a Commissioner, and long
before I returned to the Commission, I was impressed with
her judgment, intellect, dedication, and common sense.  Over
the past four years, Laura has served in stellar fashion,
first as a member of the Commission, and then for half a
year in the arduous and demanding role of Acting Chair.  Her
performance and leadership are well-known and appreciated by
all.  Her stewardship of the Commission was extraordinary,
especially her relentless efforts to achieve pay parity for
the Commission's staff.  Over the past few months, I have
also had the privilege and pleasure of becoming Laura's
colleague.  Watching her up close makes it clear to me that
she is an exceptional public servant.  I will miss Laura,
but wish her the best in her post-Commission professional
endeavors."
     
     Commissioner Isaac Hunt said, "I am very sad that
apparently I will be losing Commissioner Laura Unger as a
colleague in the not too distant future.  However, I am
confident I will not be losing her as a friend.  In serving
with Laura over the past four years, I have been impressed
with Laura's judgment, intellect, dedication, and common
sense - as Chairman Pitt noted - and, not the least of
which, her good humor.  Laura served as an excellent
Commissioner and a superb Acting Chair.  I wish her every
success in her future endeavors."
     
     Ms. Unger was sworn in as Commissioner on November 5th,
1997.  On February 12, 2001, President Bush designated her
Acting Chairman, a position she held until August 3rd.
     
     Before her appointment to the Commission, Ms. Unger
served as Securities Counsel to the United States Senate
Committee on Banking, Housing and Urban development where
she advised the Chairman, Senator Alfonse M. D'Amato.
Previously, Ms. Unger was an attorney with the SEC's
Enforcement Division.
     
     Ms. Unger lives in Washington, D.C., with her husband
Peter Unger, a securities attorney, and their daughters,
Simone and Natalie.

                              
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