FOR IMMEDIATE RELEASE 99-73 SEC To Host Annual Government Business Forum Washington, DC, June 29, 1999 -- The Commission today announced that the Eighteenth Annual Government Business Forum on Small Business Capital Formation will be held on Monday, September 13, and Tuesday, September 14, 1999 in Washington, DC at The Renaissance Mayflower Hotel, which is located in the heart of the business district of Washington, DC just four blocks north of The White House and one-half block from the Farragut North Metro station. The Forum offers small business an opportunity to articulate its views and needs. The Forum's participants discuss ways to eliminate unnecessary governmental impediments to raising capital and seeking credit. Afterwards, a final report of the Forum's activities is prepared, which includes recommendations for governmental action. This report is provided to Congress and those governmental agencies that can craft the relief sought by the Forum. Over the years, many Forum recommendations have resulted in legislative and regulatory reform in the areas of taxation, securities regulation, financial services regulation, and state assistance programs. This year's Forum will be divided into three distinct issue areas: securities, tax and credit. The securities section will concentrate on the venture capital aspects of early and mid-stage financings, liquidity/exit strategies, and an update on proposed revisions to Rule 15c2-11, including exploration of alternatives to disseminating issuer information. The taxation section will focus on current tax reform proposals, alternatives for taxation in electronic commerce and opportunities in the pension and Social Security systems to allow for self-investment by small businesses. In the credit section the Forum will discuss the possible impediments of obtaining credit/equity financing encountered by small businesses located outside of urban/suburban areas and the alternative products and services that banks are developing to increase lending to small businesses. Sessions will be comprised of two parts, following a basic format that has been used in recent years. The morning sessions will offer a variety of roundtable discussions, each devoted to one of the three targeted topics. The afternoon sessions will be devoted to discussion in small interactive break-out groups to permit Forum participants sufficient time to develop thoughtful recommendations. An opening general session panel will focus on raising capital over the Internet. Participation at the Forum must be limited to 150 persons. Nonetheless, in view of its purposes, every effort will be made to ensure that each small business owner seeking to participate will be able to do so. In order to defray certain costs of the Forum, including the group luncheons and the welcoming reception, each participant will be charged $175. For further information, contact Barbara Jacobs or Janice McGuirk in the Office of Small Business in the Division of Corporation Finance at (202) 942-2950. Or, please send an e-mail message to the small business electronic mailbox at "e-prospectus@sec.gov". # # #