FOR IMMEDIATE RELEASE                             2000-164


 CHIEF ACCOUNTANT IS SEEKING CANDIDATES FOR TWO PROFESSIONAL
                 ACCOUNTING FELLOW POSITIONS


  Washington, D.C., October 27, 2000 --The Securities and
Exchange Commission's Office of the Chief Accountant
announced that it is now accepting applications for two
Professional Accounting Fellow positions in the Office of
the Chief Accountant.  This highly successful program, begun
in 1972, is designed to provide outstanding opportunities
for personal development and career advancement.  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. The Chief Accountant would like to select
individuals with the following backgrounds to begin in June
2001:
  
  *    One individual with both a background in accounting for
       financial instruments and experience with financial
       institutions
  
  *    One individual for a position which will not be
       weighted toward a particular background or experience,
       although familiarity with accounting for consolidations,
       revenue recognition, business combinations, and other forms
       of business alliances would be helpful.

  Applicants should have nine to twelve years of experience
in public accounting or its equivalent with at least three
to six years as a manager.  They should be thoroughly
familiar with the technical accounting and auditing
literature as well as with current issues confronting the
profession.

  Applicants are required to submit a ten to fifteen page
essay they have prepared on their own, on a subject directly
related to a current accounting or auditing issue in one of
the following topical areas:
  
  *    Improving the business reporting model
  
  *    Accounting for overhaul and maintenance costs

  *    Accounting issues involving revenue recognition

  *    Accounting for the carrying value of loans and loan
       impairment
  
  *    Determining the fair value of financial instruments
       that do not have a readily determinable market value

  *    Consolidation issues associated with special purpose
       entities.

Interested applicants are to submit:

  *    A resume
  
  *    Standard Form 171, "Personal Qualification Statement"
       or Form OF-612, "Optional Application for Federal
       Employment" or any other written format that clearly
       identifies the announcement number, title, series, and grade
       of the job the applicant is seeking

  *    At least two letters of recommendation from non-
       relatives.

  Standard Form 171, Form OF-612 and "Applying for a
Federal Job," which highlights the information to be
included in the resume or other written submission, can be
obtained from the Office of Personnel Management, Securities
and Exchange Commission, 450 Fifth Street, N.W., Washington,
D.C., 20549.  Form OF-612 is also available on the Internet
at http://www.opm.gov.  The application and essay should be
submitted on or before December 15, 2000, to the Chief
Accountant of the Securities and Exchange Commission.
Inquiries about the program may be addressed to the
attention of E. Michael Pierce in the Office of the Chief
Accountant by calling 202-942-4400 (e-mail:
PierceM@sec.gov).

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

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