FOR IMMEDIATE RELEASE                                  98-106

                       Fee Rate Advisory

     Washington, D.C., October 14, 1998 -- We expect the
continuing resolution (CR) the Securities and Exchange Commission
has been funded under since October 1, 1998 to be extended until
midnight Friday, October 16.  At this time we cannot be certain
what the fee rate will be for filings on Monday, October 19.  The
three possibilities are:

     If the CR is extended beyond Friday 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 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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