FOR IMMEDIATE RELEASE                                  97-37




        DEPUTY DIRECTOR OF MUNICIPAL SECURITIES DEPARTS 
                           COMMISSION




     Washington, D.C., April 25, 1997 -- The Commission's Office of
Municipal Securities today announced that Deputy Director Susan M.
Golden will be departing the Commission on May 2, 1997 after two
years of service as Deputy Director.  Prior to joining the Office
of Municipal Securities,  Ms. Golden had served with the Commission
as a staff attorney in the Division of Enforcement. 

     Paul Maco, Director of the Office of Municipal Securities,
said, "Susan's efforts were instrumental in establishing the Office
of Municipal Securities and making it an effective resource for
both the Commission and the municipal finance community. We will
all miss her energy and enthusiasm."

     Ms. Golden had also been acting Ombudsman for Municipal
Securities, working together with Charlotte Buford until
designation of a permanent Ombudsman.  Ms. Buford, Mark Zehner and
Curtis Young will continue to work with issuers to improve
practices in the municipal market.  They may be reached at (202)
942-7300, or by facsimile at (202) 942-9642.  They also may be
reached via the Commission's web site at www.sec.gov.



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