98-19
                       MEDIA ADVISORY

    Unprecedented Investor Education Campaign Unveiled by
         Government, Business, and Consumer Leaders
   New report details consequences of financial illiteracy

     Washington, D.C., Feb. 19--At a February 24 news
conference, details of an unprecedented campaign to motivate
Americans to get the facts about saving and investing will
be announced by SEC Chairman Arthur Levitt, NASAA President
Denny Crawford, Labor Department Assistant Secretary Olena
Berg, ICI President Matt Fink, SIA President Marc Lackritz,
other government and financial service industry leaders, and
consumer advocates.

     The "Facts on Saving and Investing Campaign" will kick-
off with a week-long series of national and community
initiatives from March 29-April 4, 1998, culminating in a
first-ever National Investors' Town Meeting that will be
broadcast by satellite nationwide on April 4.  Twenty-one
countries throughout the Western Hemisphere will also hold
events for their citizens as part of the campaign which
stretches from Canada to Chile.

     The broad-based coalition will also release a new
report identifying how financial illiteracy threatens
personal financial security.  Americans are increasingly
responsible for their own financial security, but many lack
the basic information they need to save and invest wisely,
and avoid costly mistakes.

     Representatives of the following organizations will be
available for questions:

* Alliance for Investor        * National Association of
   Education                      Securities Dealers

* American Association of      * New York Stock Exchange
   Individual Investors

* American Association of      * North American Securities
   Retired Persons                Administrators Association

* American Savings Education   * Securities Industry Association
   Council

* Certified Financial Planner  * Social Security Administration
   Board of Standards

* Consumer Federation of       * The Bond Market Association
   America

* Employee Benefit Research    * U.S. Department of Agriculture
   Institute

* Federal Reserve Board        * U.S. Department of Labor

* Federal Trade Commission     * U.S. General Services
                                  Administration

* International Association    * U.S. Securities and Exchange
   for Financial Planning         Commission

* Investment Company           * U.S. Treasury, Bureau of Public
   Institute                      Debt

          When:     10:00 a.m., February 24, 1998  (set-
                    up begins at 9:00 a.m.)
          Where:    Federal Reserve Board, Eccles Building--
                    Board Room, 20th and C Streets, N.W., 
                    Washington, DC
          Contact:  John J. Nester, SEC, (202) 942-7083

Media planning to cover the event should contact Marci
Schneider (202) 452-3240 of the Federal Reserve Board to
arrange security clearance.
                              
                         #    #    #