FOR IMMEDIATE RELEASE
97-87




   CHIEF ACCOUNTANT SELECTS AN INTERNATIONAL PROFESSIONAL
 ACCOUNTING FELLOW AND IS SEEKING CANDIDATES FOR THREE OTHER
          PROFESSIONAL ACCOUNTING FELLOW POSITIONS



     Washington, D.C., October 3, 1997 -- The Securities and
Exchange Commission's Office of the Chief Accountant
recently selected D.J. Gannon of Deloitte & Touche to serve
as a Professional Accounting Fellow, in the area of
international accounting, for a two year term beginning in
October 1997.  Currently, Mr. Gannon is a Manager in the
national office of Deloitte & Touche LLP in Wilton,
Connecticut.  Mr. Gannon will join the current Professional
Accounting Fellows -- Ms. Donna L. Coallier, formerly of
Coopers & Lybrand LLP; Mr. Jeffrey N. Jones, formerly of
KPMG Peat Marwick LLP; Mr. Armando Pimentel, formerly of
Deloitte & Touche LLP; Mr. Cody L. Smith, formerly of Price
Waterhouse LLP; and Mr. Robert Uhl, formerly of Deloitte &
Touche LLP.

At the Commission, the newly selected Professional
Accounting Fellow will work with the Chief Accountant and
will focus primarily on international accounting, reporting,
and auditing issues.  Significant responsibilities will
include reviewing and evaluating proposed international
accounting and auditing standards and consulting on
interpretive matters relating to the application of non-US
generally accepted accounting principles in documents filed
with the Commission.

The Commission also announced that it is now accepting
applications for three Professional Accounting Fellow
positions in the Office of the Chief Accountant.  This
highly successful program is designed to provide outstanding
opportunities for personal development and career
enhancement.  During their two year term, Fellows work
directly with the Chief Accountant, and are involved in the
study and development of rule proposals under the Federal
securities laws, liaison with professional accounting
standard-setting bodies, and consultation with registrants
on accounting and reporting matters.  Of  the three Fellows
who will be selected in early 1998, the Chief Accountant
would like to select one individual with both a background
in accounting for financial instruments and experience with
financial institutions other than banks, such as insurance
companies.  In addition, familiarity with accounting for
business combinations, stock compensation, and
consolidations enhances an applicant's qualifications.

Applicants should have a minimum of eight years' experience
in public accounting or its equivalent, with at least two
years as a manager.  They should be thoroughly familiar with
technical accounting and auditing literature as well as with
current issues confronting the profession.

Applicants are required to submit background information and
an eight- to ten-page essay on a current accounting or
auditing issue of interest to the applicant and the
Commission staff.  They must submit a resume or a completed
Standard Form 171, "Personnel Qualification Statement," and
should include at least two letters of recommendation from
non-relatives.  Applications must be submitted by December
31.  Application procedures are available from the Office of
the Chief Accountant, US Securities and Exchange Commission,
Mail Stop 11-3, 450 Fifth Street, N.W., Washington, D.C.
20549.  Inquiries should be addressed to Robert Uhl in the
Office of the Chief Accountant at (202) 942-4400.

The Commission's policy of affording equal employment
opportunity to all interested candidates will be followed.



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