FOR IMMEDIATE RELEASE                                  99-80

 Jaime Lizarraga, Deputy Director of Legislative Affairs, to
                          Leave SEC
                              
     Washington, DC, July 12, 1999 -- The Securities and
Exchange Commission today announced that Jaime E. Lizarraga,
Deputy Director of the SEC's Office of Legislative Affairs,
will leave the Commission next week to join the Democratic
staff of the Committee on Banking and Financial Services at
the U.S. House of Representatives.  Mr. Lizarraga will serve
as a senior professional staff member and will advise the
Ranking Member, John J. LaFalce (D-NY), and Democratic
Members on major financial institutions, legislative, and
regulatory matters before the Committee.

     As Deputy Director, Mr. Lizarraga, who arrived at the
Commission in February of this year, advised the Chairman,
Commissioners, and senior staff of the SEC on various
legislative matters, including financial services
modernization, accounting, and enforcement issues.  He also
facilitated close and continuing contacts between the
Commission and congressional staff, committees, and Members
of Congress.

     SEC Chairman Arthur Levitt said, "During his short
stay, Jaime was a valuable resource to those who worked with
him. His affable personality as well as his diligence,
energy, and familiarity with the legislative process were a
great asset to the Commission.  I wish him continued success
in the legislative arena."

     Prior to coming to the Commission, Mr. Lizarraga was
Deputy to the Assistant Secretary for Legislative Affairs at
the Treasury Department, where he handled an array of
banking and domestic finance issues, including financial
services modernization.  Before working at the Treasury
Department, Mr. Lizarraga served on the Democratic staff of
the House Banking Committee and also the former House Energy
and Commerce Committee.  He began his career in Washington
in 1990 as an Evaluator with the General Accounting Office.
Mr. Lizarraga received his B.A. in Political Science/Latin
American Studies with high honors from the University of
California, San Diego in 1988, and his M.A. in Public
Affairs from the Lyndon B. Johnson School of Public Affairs
at the University of Texas, Austin in 1990.
                              
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