FOR IMMEDIATE RELEASE                                  97-107



FEE RATE ADVISORY - NOVEMBER 26 UPDATE 



     Washington, D.C., November 26, 1997 -- We expect that President Clinton
will sign the SEC's pending appropriations bill, H.R. 2267, before the continuing
resolution expires at midnight tonight, Wednesday, November 26.  If signed today,
the SEC will implement the new fee rate on filings made pursuant to Section 6(b)
of the Securities Act of 1933 on Friday, November 28, 1997.  The new fee rate
will be $295 per $1,000,000 (pro rated for amounts less than $1,000,000),
calculated by multiplying the aggregate offering amount by .000295.

Check our website (http://www.sec.gov) on Friday morning for the latest
information.  Filers and registrants can call the Office of Filings and Information
Services, Filer Support Unit at (202) 942-8900 if they have any questions.

Please be reminded that the Securities and Exchange Commission will be closed on
Thursday, November 27 for the Thanksgiving holiday.

                                  # # #