FOR IMMEDIATE RELEASE                                  97-108



                        FEE RATE ADVISORY UPDATE 



Washington, D.C., November 26, 1997 - The SEC's appropriations bill (H.R. 2267)
has been enacted that decreases the fee rate on filings made pursuant to Section
6(b) of the Securities Act of 1933.  Effective November 28, 1997, the fee rate is
decreased to $295 per $1,000,000 (prorated for amounts less than $1,000,000). 
This fee should be calculated by multiplying the aggregate offering amount by
.000295.

Filers and registrants that pay at the 1/33rd of one percent rate should be aware
that the Commission will refund the difference.  If you feel you are entitled to a
refund, please write to us at:

           U.S. Securities and Exchange Commission
           Office of Filings and Information Services
           Fee Unit
           6432 General Green Way
           Mail Stop 0-7
           Alexandria, VA  22312 

If you have any questions about the fee rate, please contact the Office of Filings
and Information Services, Filer Support Unit at (202) 942-8900.

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