FOR IMMEDIATE RELEASE                                99-104

Statement by SEC Chairman Arthur Levitt on NASDAQ's Decision
    To Extend Trade Reporting and Quotation Systems Hours

     Washington, DC, August 27, 1999 -- Securities and
Exchange Commission Chairman Arthur Levitt today issued the
following statement:

     "The after-hours market presents special risks to the
     investor, including volatility and widely scattered
     prices of varying quality.  We are pleased that NASDAQ
     has taken steps to make these prices visible to after-
     hours investors.  This will also help broker-dealers
     fulfill their duty of best execution, which is crucial
     to the protection of investors in this still
     unchartered territory.  We urge the industry to take
     advantage of the benefits of this important
     initiative."

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