FOR IMMEDIATE RELEASE                                  98-76
                              
   Kaye F. Williams, Director of the Office of Legislative
                          Affairs,
      Will Leave the Commission to Work with Prudential
                              
     Washington D.C., August 20, 1998 -- Kaye F. Williams,
Director of the Securities and Exchange Commission's Office
of Legislative Affairs, announced today that she will leave
the Commission in September to become a consultant to
Prudential Insurance Company of America.  Ms. Williams will
work in the firm's Washington office. In her new capacity,
Ms. Williams, 36, will provide government relations
assistance in connection with a variety of issues affecting
financial services.

     SEC Chairman Arthur Levitt said, "Kaye Williams has
been a dedicated and effective lawyer and adviser.  In her
eight years at the Commission Kaye has provided
Commissioners, senior staff, and myself with valuable
insight and guidance concerning numerous legislative issues
affecting the SEC.  On behalf of the Commission and
investors, I thank Kaye for the positive impact she has
had."

     Ms. Williams has been Director of the SEC's Office of
Legislative Affairs since 1996, and is the key legislative
policy adviser to the Commission.  She serves as the SEC
liaison with Members and staff of the Senate Banking and
House Commerce Committees, and monitors various legislation
concerning the SEC.  Ms. Williams also coordinates the
preparation for congressional testimony for the Chairman,
Commissioners, and senior SEC staff.  In 1997, she received
the Commission's Law and Policy Award for work on the
National Securities Markets Improvement Act of 1996.

     Prior to joining the Commission in her current
capacity, Ms. Williams served as Assistant General Counsel
and Assistant Vice President at the Securities Industry
Association from 1993 to 1996.  Ms. Williams first joined
the Commission in 1988 as a staff attorney in the Division
of Enforcement and served as legal counsel to SEC
Commissioner Richard Y. Roberts from 1990 until 1993.

     In announcing her plans to leave the Commission, Ms.
Williams said, "For nearly eight years I have had the great
honor to serve the Commission and investors.  I am grateful
to Chairman Levitt for the opportunity to work with and
advise him on the many legislative issues that the
Commission has faced.  As I return to the private sector, I
leave behind many special memories, but bring with me
increased faith in the workings of government and the
dedicated people committed to public service."

     Ms. Williams holds a J.D. degree from the Georgetown
University Law Center and a B.A. degree in politics and
public policy from Goucher College.
                           #  #  #