ICI Submits Comment Letter on Closed-End Fund Quotes

Washington, DC, September 24, 1998 - ICI has submitted a comment letter to the SEC on the proposed amendments to NASD Rule 6800 that would include certain closed-end funds in Nasdaq's Mutual Fund Quotation Service (MFQS). The letter strongly supports the proposed amendments, noting that the changes would protect investors and the public interest by promoting investor access to daily price information with respect to closed-end funds. The Institute also noted that it may be appropriate for the NASD and Nasdaq to consider lowering the net assets thresholds for initial eligibility for and maintenance on the News Media List in the future if newspapers are receptive to including more price information about closed-end funds.