FOR IMMEDIATE RELEASE                                           97-83




                         FEE RATE ADVISORY - UPDATE 



      Washington, D.C., September 30, 1997 --  As an update to our Fee Rate
Advisory of September 25, we are still uncertain of the section 6(b) fee rate
beginning tomorrow, October 1.  As the September 25 advisory stated, "in the
event a continuing resolution is enacted, the fee rate will continue at its current
rate of 1/33rd of one percent of the aggregate offering amount".  The advisory also
stated that "in the unlikely event that neither a fiscal 1998 appropriations bill nor a
continuing resolution is enacted, the fee rate will go to 1/50th of one percent of
the aggregate offering amount.

      Given the likelihood of the enactment tonight of a continuing resolution,
filers are advised to continue to pay at the existing rate of 1/33rd of one percent of
the aggregate offering amount.  

      Filers and registrants are responsible for paying the correct fee.  Although
they have the option of paying a lower amount if neither an appropriations bill nor a
continuing resolution is enacted, please be advised that under similar budget
uncertainties in past years, filers who paid a lower fee rate later were required by
Congress to pay an additional amount equal to the difference between the amount
paid and amount required at the higher fee rate.    

      The Commission will issue further notices as appropriate to keep filers and
registrants informed of developments affecting the section 6(b) fee rate.  This
information will be posted at the SEC's internet address http://www.sec.gov.  In
the interim, filers and registrants should contact the Office of Filings and
Information Services, Filer Support Unit at (202) 942-8900 if they have any
questions.



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