FOR IMMEDIATE RELEASE 99-60 Press Contact: John J. Nester (202) 942-7083 SEC Chairman Arthur Levitt, State Officials to Hold Investors' Town Meeting in Washington Free program will offer practical tips for saving and investing Washington, DC, June 3, 1999 -- U.S. Securities and Exchange Commission Chairman Arthur Levitt will conduct an Investors' Town Meeting at the Seattle Center in Seattle, Washington, on Tuesday, June 22. The free program of practical tips for saving and investing wisely will also feature Washington's Director of Securities, Deborah R. Bortner, and other experts. The SEC Chairman will discuss how to make informed investment decisions, monitor investments, and avoid costly mistakes. He will also point out the questions people should ask before they invest. "More Americans than ever before are putting their hard- earned money in the market, and there are more financial products and investment professionals than ever to choose from," Levitt said. "Educated investors are more likely to achieve financial security and do a better job of protecting themselves against potential fraud and abuse." The Washington Investors' Town Meeting will be the first of two in the Pacific Northwest (the other will take place in Portland, Oregon, on Wednesday, June 23). The Washington town meeting will be the 30th such event in a national series to promote public understanding of the securities markets and awareness of the risks and rewards of investing. Americans have become increasingly responsible for their own financial security in recent years, especially with the shift from traditional pensions to self-directed 401(k) plans and other retirement accounts. "Today with nearly half of American households investing in the stock market, many using the Internet to do so, it is incredibly important that investors become as financially literate as possible. The Investor's Town Meeting is a wonderful opportunity for Washington citizens to learn how to protect themselves and make their money work harder for them," Bortner said. According to the Securities Industry Association, a trade group that represents brokers, an estimated 48 percent of American households now own stock directly or indirectly through mutual funds or retirement accounts. The Investment Company Institute, which represents mutual fund companies, reported last month that Americans have invested a record 5.9 trillion in mutual funds alone. The Investors' Town Meeting will take place at the Seattle Center, 305 Harrison Street, Seattle, from 5:00 to 6:45 p.m., followed by four different seminars to choose from at both 8:00 and 9:00 p.m. The one-hour seminars will include sessions on stocks, bonds, mutual funds, and financial planning. Doors will open at 4:00 p.m. so attendees can browse through educational exhibits and pick up free brochures. Admission is free, but reservations are recommended because seating is limited. To reserve a seat, call (888) 2263224 toll- free, or send an e-mail to secrsvp@dfi.wa.gov. Anyone who needs auxiliary aids to attend the town meeting, such as a sign language interpreter or material on tape, should call (360) 902- 8731 by June 15. # # #