FOR IMMEDIATE RELEASE                       99-131


Jay Perlman, Deputy Chief of the Office of Internet Enforcement,
            to Leave SEC After Nine Years of Service
                                
     Washington, DC, October 13, 1999 -- Jay H. Perlman, Deputy
Chief of the Securities and Exchange Commission's Office of
Internet Enforcement, today announced that he will leave the
Commission at the end of this week.  Mr. Perlman will become
Associate General Counsel at The Motley Fool, Inc., a private
multimedia publisher of investment education and advice.  Matthew
Moro, currently Special Counsel for Internet Projects, will
succeed Mr. Perlman.

     SEC Enforcement Division Director Richard H. Walker said,
"For nearly a decade Jay has served the Commission and investors
with enthusiasm and distinction.  As Deputy Chief of the Office
of Internet Enforcement, Jay has worked effectively to safeguard
investors from Internet scams.  Jay has supplemented the
Commission's ability to detect and prosecute Internet fraudsters
by working with numerous state and federal law enforcement
officials.  I thank him for his good-spirited service and wish
him well as he embarks on this new chapter of his career."

     Mr. Perlman, 34, became Deputy Chief of the Office of
Internet Enforcement in July 1998 after serving in various
capacities in the Divisions of Enforcement and Corporation
Finance, beginning in 1990.  As Deputy Chief of the first law
enforcement unit entirely dedicated to combating Internet
securities fraud, Mr. Perlman helped formulate and coordinate
four nationwide initiatives to combat Internet securities fraud,
which resulted in dozens of enforcement actions.  Mr. Perlman
also assisted in the establishment of a joint initiative between
the FBI and the SEC to fight Internet securities fraud and served
as an instructor at the FBI Academy.

     Mr. Perlman has a B.S. from Fordham University and a J.D.
from Albany Law School.

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