FOR IMMEDIATE RELEASE                                       97-64


                        SEC OPEN MEETING 



     Washington, D.C., July 28, 1997 -- Pursuant to provisions of
the Government in the Sunshine Act, the Securities and Exchange
Commission will hear oral argument on appeal by the Division of
Enforcement from an administrative law judge's decision in the
matter of Ferdinand Russo And Russo Securities, Inc.  The open
meeting will be held on Tuesday, July 29, starting at 10:00 a.m.,
in Room 1C30 at Commission Headquarters, 450 Fifth Street, N.W.,
Washington, D.C.


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Any member of the public who requires auxiliary aids such as a
sign-language interpreter or material on tape to attend a public
meeting should contact Rochelle Franks, Office of Administrative
and Personnel Management, to make arrangements.  Ms. Franks can be
reached at (202) 942-9558, or at a TTY number (202) 942-4075. 
Staff members at the Commission are encouraged to contact Ms.
Franks if they receive inquiries on availability of auxiliary aids.