FOR IMMEDIATE RELEASE                                  97-44
                              
                              
          SEC CHAIRMAN LEVITT PRAISES LEADERSHIP OF
             REPS. BLILEY, OXLEY, AND MARKEY AND
      SEC COMMISSIONER WALLMAN ON DECIMALIZATION ISSUE
                              
            SEC TO CONVENE MEETING OF MARKETS TO
                 COORDINATE MOVE TO DECIMALS

Washington, DC, June 5, 1997  --  Securities and Exchange
Commission Chairman Arthur Levitt today praised U.S.
Representatives Thomas Bliley, Michael Oxley, Edward Markey,
and SEC Commissioner Steve Wallman for their leadership in
promoting the benefits of quoting stock prices in decimals.
Chairman Levitt also announced that the SEC will convene a
meeting of industry officials within the next month to
coordinate the move to decimal pricing.

     "Today's decision by the New York Stock Exchange to
begin quoting stocks in dollars and cents is a bold and
welcome step and a victory for investors," said SEC Chairman
Arthur Levitt.  "A confluence of events over the past year,
including the SEC's new order handling rules and the dialog
regarding decimals both on Capitol Hill and within the SEC,
created an environment that enabled market forces to
prevail."

     "Reps. Bliley, Oxley, and Markey as well as SEC
Commissioner Wallman deserve credit for educating the public
about this important issue and for helping to make decimal
pricing a reality.  Congratulations also to the New York
Stock Exchange for its leadership," Chairman Levitt added.

     "There are many important technical issues that still
need to be addressed.  In addition, there are significant
timing issues that must be considered to ensure a smooth and
orderly transition.  This should be an industry-wide
coordinated effort and for that reason I am calling a
meeting with all of the markets, clearance organizations,
and industry officials within the next 30 days to begin this
process," Chairman Levitt concluded.

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