NYSE Proposes Amendments to Shareholder Stock Option Approval Policy

Washington, DC, November 24, 1998 - The Securities and Exchange Commission recently issued a release soliciting comment on the New York Stock Exchange's proposed amendments to its shareholder approval policy concerning stock option and similar plans. Specifically, the NYSE Board of Directors approved modifications to the Exchange's shareholder approval requirements regarding the definition of broadly based stock option plans. Comments on the proposal are due January 25, 1999. (The Institute filed a comment letter last August on the NYSE proposal.)