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FOUR EXECUTIVES JOIN PAINEWEBBER INCORPORATED TO FORM THE EDUCATION LOAN GROUP

 FOUR EXECUTIVES JOIN PAINEWEBBER INCORPORATED TO FORM
 THE EDUCATION LOAN GROUP
 NEW YORK, Feb. 27 /PRNewswire/ -- Paul W. Wozniak, Amy F. Monblatt, Jeffrey J. Wagner and Paul Vambutas have recently joined PaineWebber Incorporated from Chemical Securities Inc., formerly Manufacturers Hanover, to establish the newly formed Education Loan Group, it was announced by Terry L. Atkinson, managing director and head of the Municipal Securities Group.
 Paul Wozniak, 32, was named a vice president and head of PaineWebber's Education Loan Group. Wozniak was a managing director in the Student Loan Group at Chemical Securities Corp. He earned a B.S. in economics with honors from the Wharton School of Finance and earned an M.B.A. from the Columbia Business School with a concentration in finance. Wozniak will work with Atkinson and other senior bankers in developing PaineWebber's education loan practice.
 Amy Monblatt, 39, was also named a vice president of PaineWebber's Education Loan Group. She was a vice president at Chemical Securities Corp. She earned an M.S. with honors from Columbia University and an M.B.A. with honors from New York University's Graduate School of Business Administration.
 Jeffrey Wagner, 29, was named as assistant vice president of PaineWebber's Education Loan Group. At Chemical Securities Corp., he was a vice president. Wagner earned a B.S. with honors in business administration from the State University of New York at Albany, and an M.B.A. in finance from Columbia University's School of Business.
 Paul Vambutas, 24, joined PaineWebber's Education Loan Group as an analyst. At Chemical Securities Corp., he was the Student Loan Group's primary quantitative analyst. Vambutas earned a B.A. in economics from Columbia University.
 Terry Atkinson, managing director, said, "Forming the Education Loan Group represent the continued expansion of PaineWebber's commitment to the municipal securities business. The expansion into the education loan area furthers our strategic plan of entering new markets when opportunities present themselves, particularly where we can add established personnel with expertise in a specialty area of finance. We intend to be a key factor in the education loan arena as we go forward in the 1990s."
 PaineWebber Incorporated is one of the nation's leading full-service securities firms serving the investment and capital needs of a worldwide client base.
 -0- 2/27/92
 /CONTACT: Beverly T. Spano of PaineWebber, 201-902-6775, or Jeffrey Z. Taufield of Kekst and Company, 212-593-2655, for PaineWebber/
 (PWJ) CO: PaineWebber Incorporated ST: New York IN: FIN SU: PER


KD-SA -- NY091 -- 3482 02/27/92 17:24 EST
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Date:Feb 27, 1992
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