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THE FIRST EUROTRACK 200 WARRANTS BEGIN TRADING AT THE AMEX; EXCHANGE TRADES WARRANTS ON INDEX OF 200 MAJOR EUROPEAN COMPANIES

 NEW YORK, June 4 /PRNewswire/ -- The American Stock Exchange today listed the first pan-European warrants in an effort to enhance trading opportunities for globally-oriented investors. The new securities are based on the Financial Times-Stock Exchange (FT-SE) Eurotrack 200 Index, a measurement of the aggregate stock price performance of 200 companies in fourteen European countries.
 "With rapidly expanding global markets and an increasing number of U.S. investors looking to broaden their portfolios with international stocks, the need for hedging and risk management products could not be more apparent," said American Stock Exchange Senior Vice President of Capital Markets Benjamin Krause.
 Trading under ticker symbol, "EXA.WS," the 2.8 million warrants were issued by Shearson Lehman Brothers Holdings Inc. and underwritten by Lehman Brothers. They are cash settled in U.S. dollars and expire on June 4, 1996. The warrants can be redeemed any day prior to expiration.
 The new warrants are expected to trade much like a call option on the Eurotrack Index, typically rising in value when the component stock prices rise and falling, when the stock prices decline.
 At the start of today's trading, the new warrants opened at 5-3/8 on an initial trade of 118,600 warrants.
 The Eurotrack 200 is a capitalization-weighted index that combines the stock representation from two leading existing European indexes: the Eurotrack 100 Index, representing the leading non-U.K. European stocks, and London's FT-SE 100 Index, consisting of the largest and most actively traded stocks on the London Stock Exchange. As of April 30, 1993, each country's weighting in the Eurotrack Index was: United Kingdom, 40.70 percent; Germany, 14.27 percent; France, 14.35 percent; Switzerland, 8.69 percent; Netherlands, 7.02 percent; Italy, 5.58 percent; Spain, 3.56 percent; Sweden, 3.37 percent; Belgium 1.25 percent; Ireland, .49 percent; Denmark, .25 percent; Norway, .19 percent; Finland, .17 percent; and Austria .11 percent.
 The move by the Amex to list warrants based on the Eurotrack 200 follows earlier precedents set by the Exchange when it was the first U.S. securities marketplace to provide a market in warrants based on France's CAC-40 Index, London's FT-SE 100 and Japan's Nikkei Stock Average.
 -0- 6/4/93
 /CONTACT: Kathleen Fitzpatrick, manager, Derivative Securities Communications of Amex, 212-306-1697/


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

PS -- NY032 -- 5437 06/04/93 12:24 EDT
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Date:Jun 4, 1993
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