FOR IMMEDIATE RELEASE                                  99-26

        SEC To Consider Two Items at an Open Meeting

     Washington, DC, March 1, 1999 -- The Securities and
Exchange Commission will consider two items at an open
meeting conducted under the Government in the Sunshine Act
on Tuesday, March 2, at 10:00 a.m.  The meeting will be held
in the William O. Douglas Room (Room 1C30) at the
Commission's headquarters building, 450 Fifth Street, N.W.,
Washington, D.C.

The items under consideration are:

1)   The Commission will hear oral argument on an appeal
from the initial decision of an administrative law judge by
Al Rizek, a former vice president of Painewebber
Incorporated of Puerto Rico, a registered broker-dealer.

2)   The Commission will consider proposing rules regarding
operational capability of non-bank transfer agents and
broker-dealers.  In addition, the Commission will consider
rules regarding non-bank transfer agents and broker-dealers
that are not Year 2000 compliant.

                         #    #    #

Any member of the public who requires auxiliary aids such as
a sign language interpreter or taped materials, should
contact Rochelle Franks, Office of Administrative and
Personnel Management, to make arrangements.  Ms. Franks can
be reached at TTY number (202) 942-9558.  If you are calling
from a non-TTY number, please call the Relay Service at 1-
800-877-8339.