A 4886 - December 31, 1998

A 4886 - December 31, 1998
P&S 4450

TO: ALL PARTICIPANTS

ATTENTION: MANAGER, PURCHASES AND SALES DEPARTMENT, CASHIER, FUND/SERV PARTICIPANTS, ACATS PARTICIPANTS, MUNICIPAL BOND COMPARISON PARTICIPANTS

SUBJECT: CHANGES IN THE LIST OF PARTICIPANTS

The following firms will retire from all services as detailed below:

Effective Immediately:

Countrywide Investments Inc./LM Capital No. 5866
Signet Bank-Virginia No. 6451
First National Bank of Boston No. 6456
National Bank of Commerce No. 6458
Old Stone Corporation No. 6478
Citicorp Securities Inc. No. 6657

Last Trade Date, December 31, 1998:

Rodney Square Distributors, Inc. No. 5550

An additional number has been assigned to Provident Distributors, Inc. (#5882) for the purpose of using the Fund/Serv system and Commission Settlement service as detailed below:

First Trade Date, January 4, 1999

Provident Distributors, Inc./Rodney Square Management Corp. No. 5550
Contact: Phil Rinnander
Phone: (610) 260-6533

An additional number has been assigned to Wheat, First Securities, Inc. (#0141) for the purpose of using the Corporate and Municipal Bond Comparison systems as detailed below:

First Trade Date, January 11, 1999:

First Union Capital Markets Corp. No. 0250
Executing Symbol FCAP

The following firm will retire from the Municipal Bond Comparison system as detailed below:

Last Trade Date, January 8, 1999:

First Union Capital Markets Corp. No. 2842
Executing Symbol FUCM
Note: Questions regarding open trades should be referred to:
Mr. Richard Jardine
(704) 593-7223

The following firm will retire from the ACAT and ACAT Fund/Serv systems as detailed below:

Effective Immediately:

Peters Securities Company, L.P. No. 8024

The following firms will begin participation in the Fund/Serv and Networking systems as detailed below:

First Trade Date, January 4, 1999:

Delaware Management Trust Company No. 0453
Networking Code W7
Contact: Diane Anderson
Phone: (215) 255-1385

Exeter Trust Company No. 5909
Networking Code 2O
Contact: James Link
Phone: (716) 325-1984

Mony Securities Corporation No. 0082
Networking Code QH
Contact: Philip D=Ambrisi
Phone: (315) 477-8767

The following firm will begin participation in the Fund/Serv, Networking, and Commission Settlement systems as detailed below:

First Trade Date, January 4, 1999:

T.O. Richardson Securities, Inc. No. 5621
Networking Code 1O
Contact: Katie Russo
Phone: (860) 677-8578

UPDATE
OTC EXECUTED-BY LIST
MUNICIPAL BOND COMPARISON DIRECTORY

Kindly update the OTC Executed-By List and the Municipal Bond Comparison Directory dated July 3, 1998 as detailed below:

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Add Immediately:
Gladowsky Capital Management Corp.	PERS	0443	GCMC

Add First Trade Date, January 4, 1999:
B.C. Ziegler and Co./Special Account	PWJC	0221	GSTS

Clearing Broker Change, Effective Immediately:
From: Janda & Garrington LLC	WEDB	0103	JAGT
To: Janda & Garrington LLC	JBOC	8273	JAGT

Kindly update the OTC Executed-By List as detailed below:

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Delete, Immediately:
Ross Securities	SILK	0501	ROSS

Add, Immediately:
Richmond Hillcrest & Co., Inc.	WEDB	0103	RHCI

The following firms have remitted Executed Networking Agreements during the week of December 31, 1998:

Mony Securities Corporation - #0082

If you have any questions, please call William Reilly at (212) 412-8620 or Lisa Siebold at (212) 412-8591.

Janis Meola
Vice President, Membership