FOR IMMEDIATE RELEASE                                      98-7


          SEC TO CONSIDER ONE ITEM AT AN OPEN MEETING


      Washington,  D.C., January 21, 1998 -- The  Securities  and

Exchange  Commission will consider one item at  an  open  meeting

conducted under the Government in the Sunshine Act on January 22,

at  10:00  a.m.  The meeting will be held in Room  1C30,  at  the

Commission's  headquarters  building,  450  Fifth  Street,  N.W.,

Washington, D.C.  The item for discussion is


          -    adoption of a rule requiring plain English for the
          cover  page,  summary,  and  risk  factor  sections  of
          prospectuses  filed under the Securities Act  of  1933.
          The  rule would also codify earlier interpretive advice
          on  how  public companies can comply with  the  current
          rule   that   prospectuses  be   clear,   concise   and
          understandable.  The purpose of the proposed change  is
          to make prospectuses simpler, clearer, more useful, and
          more used.






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Any  member of the public who requires auxiliary aids such  as  a
sign  language interpreter or material on tape to attend a public
meeting  should contact Rochelle Franks, Office of Administrative
and  Personnel Management, to make arrangements.  Ms. Franks  can
be reached at TTY number (202) 942-9558.  If you are calling from
a    non-TTY   number,   please  call  the   Relay   Service   at
1-800-877-8339.