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STRONG INVESTOR INTEREST IN OVERSEAS MARKETS PROMPTS AMEX TO LIST GERMAN CURRENCY WARRANTS

 NEW YORK, June 29 /PRNewswire/ -- The American Stock Exchange today began trading U.S. Dollar/Deutsche Mark Exchange Rate Currency Warrants. Trading under ticker symbol "GDM.WS," the new currency warrants trade much like a call option on the U.S. dollar and a put option on the German mark, whereby the warrants typically rise in value as the dollar appreciates against the mark.
 International Finance Corporation (IFC), a major world source of private sector financing in developing countries and a member of the World Bank Group, will issue 4 million of the new warrants. As of May 15, 1993, the corporation's share capital was held by 154 member countries.
 Underwritten by Goldman, Sachs & Co., the new warrants carry a strike price of DM 1.7040. They expire on June 30, 1995, and are cash settled in U.S. dollars.
 "As investments in overseas stocks and bonds continue to grow at record levels, there is an ever increasing need for products that allow investors to hedge against adverse currency fluctuations," said Benjamin D. Krause, Amex senior vice president of Capital Markets. "Currency derivatives are particularly important in light of continued uncertainty regarding the long-term direction of interest rates among the major European communities," he added.
 At the start of today's trading, the new securities opened at 4-7/8 on 5,000 warrants.
 The decision to list the warrants follows an earlier move by the Amex in 1987 to list the first exchange-traded Deutsche mark warrants. A leader in the derivative securities arena, the Amex was also the first exchange to list warrants on the Japanese yen and the British pound. Currency warrants based on U.S. dollar in relation to the combined currencies of the pound, yen and mark were added this past January.
 The Amex is also the only U.S. marketplace that currently trades warrants based on London's Financial Times Stock Exchange Eurotrack 200 Index and France's CAC-40 Index. In addition, it is the home of Standard & Poor's Depositary Receipts (TM), SPDRs(TM) (pronounced SPIDERS)-- based on the domestic S&P 500 Index. Stock Index Return Securities on the S&P MidCap 400 Index trade on the Amex as well.
 -0- 6/29/93
 /CONTACT: Kathleen Fitzpatrick of Amex, 212-306-1697/


CO: American Stock Exchange ST: New York IN: FIN SU:

CK -- NY039 -- 6657 06/29/93 11:26 EDT
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Date:Jun 29, 1993
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