A 4781 - June 12, 1998

ATTENTION: MANAGING PARTNER/OFFICER, P&S MANAGER, CASHIER, DATA PROCESSING MANAGER, FUND/SERV MANAGER

National Securities Clearing Corporation, the New York and American Stock Exchanges and the NASDAQ System will be closed on Friday, July 3, 1998 in observance of Independence Day. The following changes in NSCC’s operations and schedules will be in effect:

COMPARISON SYSTEMS:
Trade input for Listed and OTC equities and all Fixed Income Transactions for trade date July 2, 1998 will be accepted no later than 12:00 Midnight on July 2, 1998.

FIXED INCOME TRANSACTION SYSTEM (FITS):
Although trading activity in Municipal Bonds may occur on July 3, 1998, participants are requested to report such transactions to NSCC’s Fixed Income Transaction System on July 6, 1998 using a trade date of July 6, 1998 for processing purposes. Comparison input for trades of July 3, 1998 and July 6, 1998 will, therefore be accepted no later than 12:00 Midnight on July 6, 1998.

CNS CONTINUOUS NET SETTLEMENT:
Seg. Exemptions and Priority Requests for settlement of Monday, July 6, 1998 will be accepted on Thursday evening, July 2, 1998. Since DTC’s systems will be available on Independence Day, NSCC’s time schedules for CNS output will change. CNS activity due for distribution on Thursday night/Friday morning will be available to participants on Friday night/Saturday morning (24 hours later than usual). NSCC reports, and Machine Readable Output (MRO) affected by this change include:

AUTOROUTE MRO#	AUTOROUTE PRINT IMAGE#	REPORT NAME
02040022 02042022 (Y2K)	02040009	CNS PROJECTION REPORT FOR SETTLEMENT TUESDAY, JULY 7, 1998
02040023 02042023 (Y2K)	02040005	CNS SETTLEMENT ACTIVITY STATEMENT (NIGHT CYCLE) FOR SETTLEMENT JULY 6, 1998
02040008 02042008 (Y2K)	02040001	CNS MISCELLANEOUS ACTIVITY REPORT FOR SETTLEMENT JULY 6, 1998
N/A	02040006	CNS PRELIMINARY CASH RECONCILIATION STATEMENT FOR SETTLEMENT JULY 6, 1998
02040253 02042253 (Y2K)	02040252	CNS TENDER AND REORG REPORTS

CENTRAL DELIVERY AND SETTLEMENT:
No Deliver or Settlement Operations will be provided on Friday, July 3, 1998.

INTER-CITY DELIVERIES:
Inter-City Deliveries will be accepted on Thursday evening, July 2, 1998 for settlement July 6, 1998.

STOCK BORROW PROGRAM:
Stock Borrow availability information will be accepted on Thursday evening, July 2, 1998 for settlement July 6, 1998.

ACAT - AUTOMATED CUSTOMER ACCOUNT TRANSFER:
No ACAT activity will be accepted on Friday, July 3, 1998.

ACAT - FUND/SERV INTERFACE:
No ACAT-FUND/SERV Interface activity will be accepted on Friday, July 3, 1998.

MUTUAL FUND COMMISSION SETTLEMENT:
No Mutual Fund Commission Settlement activity will be accepted on Friday, July 3, 1998.

FUND/SERV AND NETWORKING:
No Fund/Serv or Networking activity will be accepted on Friday, July 3, 1998.

ANNUITIES PROCESSING:
No Annuities processing will be provided on Friday, July 3, 1998.

Any questions regarding this Notice should be directed to NSCC Participant Services at (212) 412-8432.