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                SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.

Litigation Release No. 14911 / May 14, 1996

DISTRICT COURT APPROVES WITHDRAWAL OF CLAIMS BY ERIC ROSENFELD
AND WITHDRAWAL OF FUND ADMINISTRATOR'S DETERMINATION 

     On May 10, 1996, the Honorable Robert P . Patterson, Jr.,
U.S. District Court Judge for the Southern District of New York,
issued an order approving the withdrawal with prejudice of all
claims made on behalf of Eric Rosenfeld to participate in the
settlement fund established in In re Salomon Inc Securities
Litigation, 91 Civ. 5442 (S.D.N.Y.) (RPP).  The order also
approved the withdrawal of the determinations of Joel L. Carr,
the Fund Administrator in SEC v. Salomon Inc and Salomon Brothers
Inc, 92 Civ. 3691 (S.D.N.Y.) (RPP), reflected in his Memorandum
to the Court dated April 11, 1996.  

     The settlement of the class actions, In re Salomon Inc
Securities Litigation, required the payment of $54.5 million from
the Civil Claims Fund established in the SEC's civil enforcement
action, SEC v. Salomon Inc and Salomon Brothers Inc.  Under the
terms of the Final Judgment in the SEC's action, no payment can
be made from the Civil Claims Fund to certain persons if the Fund
Administrator finds, after consultation with the Commission, that
by reason of such person's participation in the activities
alleged in the complaint, it would be inequitable or otherwise
inconsistent with the purposes of the Final Judgment to permit
that person to receive such a payment.  On January 30, 1995, the
Fund Administrator made such a determination with respect to
Rosenfeld and thus found that he was ineligible to receive
approximately $681,000 from the Civil Claims Fund, which
determination was subsequently approved by the District Court. 

     In March 1996, the Fund Administrator's determination was
vacated by the U.S. Court of Appeals for the Second Circuit and
the matter was remanded to the District Court for further
findings by the Fund Administrator.  The Fund Administrator
subsequently made those findings in the April 11, 1996
Memorandum, and again determined that Rosenfeld was ineligible to
receive monies from the Civil Claims Fund.