FOR IMMEDIATE RELEASE


      SEC AND INDIAN SEBI SIGN MEMORANDUM OF UNDERSTANDING


     Washington, D.C., March 6, 1998 --  The United States
Securities and Exchange Commission (SEC) and the Securities
Exchange Board of India (SEBI) jointly announced the signing
today of a Memorandum of Understanding (MOU).  The MOU
establishes a pragmatic approach for cooperating and sharing
information in enforcing U.S. and Indian securities laws.  The
MOU also formally sets forth the SEC's intent to consult with the
SEBI on technical assistance.

     SEC Commissioner Isaac Hunt and SEBI Chairman D.R. Mehta
signed the MOU on behalf of their respective Commissions.



Editor's Note:  The formal name of the document is Memorandum of
Understanding Regarding Cooperation, Consultation and the
Provision of Technical Assistance.