FOR IMMEDIATE RELEASE
98-102


                      Fee Rate Advisory

     Washington, D.C., October 9, 1998 -- The continuing
resolution (CR) the Securities and Exchange Commission has
been funded under since October 1, 1998 expires at midnight
tonight.  While we expect the CR to be extended until
midnight October 12, we cannot be certain at this time what
the fee rate will be for filings on Tuesday, October 13.
The three possibilities are:

If the CR is extended beyond Monday night, the fee rate on
filings made pursuant to      Section 6(b) of the Securities
Act of 1933 will continue at the current rate of  $295 per
$1,000,000.  This fee should be applied pro rata to amounts
less than      $1,000,000 and should be calculated by
multiplying the aggregate offering amount    by .000295.

If the CR is not extended and there is a funding gap, the
fee rate on filings made      pursuant to Section 6(b) of
the Securities Exchange Act of 1933 will continue      at
the current rate of $295 per $1,000,000.  This fee should be
applied pro rata to      amounts less than $1,000,000 and
should be calculated by multiplying the      aggregate
offering amount by .000295.

If the pending appropriations bill is enacted, the fee rate
will decrease to $278 per     $1,000,000.  This rate also
must be applied pro rata to amounts less than
$1,000,000.  The fee should be calculated by multiplying the
aggregate      offering amount by .000278.

     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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