FOR IMMEDIATE RELEASE                             99-42

  SEC Chairman Levitt Applauds Increase in Municipal Market
                        Transparency
                              
     Washington, D.C., April 29, 1999 - Securities and
Exchange Commission Chairman Arthur Levitt applauded today's
announcement by the Municipal Securities Rulemaking Board
(MSRB) concerning the increase in municipal bond trade data
available to investors.  "Transparency helps investors make
better decisions and increases confidence in the fairness of
markets.  Transparency means more efficient markets, more
trading, and more business for bond dealers.  A sound and
sensible approach to bond market transparency is in
everybody's interest.  I congratulate the MSRB for its
continuing efforts to improve transparency in the municipal
market."

     The MSRB announced today a proposal to make data
available on individual transactions in securities that were
traded four or more times on the previous day and is
publishing samples of a new Daily Transaction Report for
comment.  The new Daily Transaction Report, upon SEC
approval, would substantially increase the amount of
available information on transactions in municipal bonds
traded four or more times during the previous trading day.

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