For Immediate Release                           99-7

Media Advisory

SEC to Host Roundtable on the Role of Independent Investment
                   Company Directors

Washington, D.C., January 22, 1999

      What:  The Securities and Exchange Commission will
             host a roundtable on the role of independent
             investment company directors.  The
             conference will explore the critical
             watchdog role that independent directors
             play in protecting the interests of fund
             shareholders.
             
             The roundtable will bring together
             independent directors, senior fund
             executives, legal counsel to funds, investor
             advocates, leading academics and others to
             examine this role and to work toward
             recommendations to improve the current
             system of fund governance
             
             
      Panel  * Fund fees and expenses
    Topics:
             * Fund distribution and brokerage arrangements
              
             * Fund disclosure

             * Valuation of fund portfolio securities
             
      When:  February 23 and 24, 1999 9:00 a.m. - 5:00
             p.m. daily
             
     Where:  U.S. Securities and Exchange Commission 
             450 5th Street, N.W. 
             Washington, DC  20549
             William O. Douglas Room
             
Attendance:  The roundtable will be open to the public.
             Seating, which is on a first-come, first-
             serve basis, will be limited.


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