FOR IMMEDIATE RELEASE 99-118 SEC Praises Securities Industry Association for Leadership on Decimal Pricing Plan Washington, DC, September 22, 1999 -- Securities and Exchange Commission Market Regulation Director Annette Nazareth today praised the Securities Industry Association for its leadership role in coordinating the securities industry's move to decimal pricing. The SIA today released a preliminary plan to phase in decimal pricing. The Commission expects to soon receive a formal request from the SIA to facilitate the implementation of this plan. Ms. Nazareth said, "The SEC has long been committed to pricing stocks in decimal increments and is pleased that the private sector is leading the effort to make decimal pricing a reality. Although the staff is open-minded regarding possible implementation phase-in plans, we would obviously view with a critical eye any plan that substantially delayed the ultimate implementation of decimal pricing." # # #