FOR IMMEDIATE RELEASE        97-50



                       EVENT ADVISORY


            SEC CHAIRMAN ARTHUR LEVITT TO DELIVER
                      MAJOR ADDRESS ON
          INTEGRITY OF MUNICIPAL SECURITIES MARKETS


Contact:  Chris Ullman
(202) 942-0020
June 24, 1997


WHAT:  Arthur Levitt, chairman of the Securities and
       Exchange Commission will deliver a major address on
       the integrity of the municipal securities markets
       and the need to end the practice of pay-to-play by
       municipal securities lawyers.

WHEN:  Thursday, June 26, 1997; 12:30 p.m.

WHERE: The Fixed Income Conference; Wyndham Franklin Plaza
       Hotel Ballroom;
       17th and Race Streets; Philadelphia, PA

RSVP:  Greg Lehman; 212.328.2500 ext. 234.