FOR IMMEDIATE RELEASE                                      99-122

                        Fee Rate Advisory

     Washington, DC, September 28, 1999 -- The fee rate on
filings made pursuant to Section 6(b) of the Securities Act of
1933 may change as of October 1, 1999, the beginning of fiscal
year 2000.  Any change is dependent on the enactment of a fiscal
year 2000 appropriation for the SEC.  However, as of today, a
fiscal 2000 appropriation bill for the SEC has not been enacted,
so it is uncertain what the fee rate will be.  The two
possibilities are:

1)   If an appropriation bill is enacted, the fee rate will
  decrease to $264 per $1,000,000.  This rate would be applied pro
  rata to amounts less than $1,000,000.  The fee should be
  calculated by multiplying the aggregate offering amount by
  .000264.

2)   If a continuing resolution is enacted, or in the event that
  neither a fiscal 2000 appropriations bill nor a continuing
  resolution is enacted, the fee rate will continue at the current
  rate of $278 per $1,000,000.

     The Commission will issue further notices as appropriate to
keep filers and registrants informed of developments affecting
the section 6(b) fee rate.  This information will be posted at
the SEC's Internet website at  http://www.sec.gov.  In the
interim, filers and registrants should contact the Office of
Filings and Information Services, Filer Support Unit, at (202)
942-8900 if they have any questions.

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