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AMEX LAUNCHES NEW SECURITY, STANDARD & POOR'S DEPOSITARY RECEIPTS ("SPIDERS")

 --"SPIDERS" Are Third Most Active Stock--
 NEW YORK, Jan. 29 /PRNewswire/ -- The American Stock Exchange today


began trading its Standard & Poor's Depositary Receipts, SPDRs(tm), (pronounced "SPIDERS"). Trading under the ticker symbol, "SPY", the new security opened at 43 31/32 on 3,100 shares. At the close of today's trading, total volume in the SPDRs was 1,003,200 shares, making it the third most active stock.
 Developed by the AMEX, SPDRs or "SPIDERS" represent ownership in a unit investment trust that holds a portfolio of components stocks of the S&P 500 Index.
 Spear, Leeds & Kellogg is the specialist unit for the new security.
 -0- 1/29/93
 /CONTACT: Kathleen Fitzpatrick, manager of Derivative securities communications of AMEX, 212-306-1697/


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

TM -- NY084 -- 0926 01/29/93 16:29 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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