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AMEX MARKET VALUE INDEX HITS RECORD HIGH SIX TIMES DURING FIRST QUARTER; OUTPERFORMS OTHER MAJOR INDICES; EQUITY TRADING VOLUME AT RECORD PACE

 NEW YORK, April 6 /PRNewswire/ -- The American Stock Exchange Market Value Index rose 6.1 percent in the 1993 first quarter, finishing at an all-time high of 423.43 on March 31 and outperforming all other major indices for the three-month period.
 The Amex index reached record highs six times during the quarter, and its percentage increase topped those posted by the Dow Jones Industrial, New York Stock Exchange Composite, Standard & Poor's 500 and the NASDAQ Composite indexes for the quarter.
 Equity trading totaled 1.06 billion shares, or an average of 17 million shares a day. Daily volume averaged 14.2 million shares during 1992, the exchange's record year for equity volume.
 Among the 10 top price performers on the Amex during the quarter were three former Emerging Company Marketplace companies that had grown sufficiently during the past year to transfer to the exchange's primary list. They were Intertel Communications, up 100 percent; Three-Five Systems, up 89.7 percent, and Digitran Systems, up 83.3 percent. The leading price gainer was Pratt Hotel Corporation, up 268.8 percent.
 "The first quarter results reflected investor interest in the mid- size growth stock area," said Jules L. Winters, chief operating officer at the Amex. Winters noted that among the exchange's sub-indices, the index gains were substantial in the financial services, natural resources and housing, construction and land development segments.
 Other highlights during the quarter included introduction of two major derivative products:
 -- Standard & Poor's Depositary Receipts(TM), SPDRs(TM), or "Spiders" which were launched Jan. 29, under an eight-foot spider balloon hanging over the trading floor. Initial acceptance was overwhelming, with more than one million shares traded the first day. During the quarter Spiders averaged approximately 240,000 shares daily. A Spider is a unit investment trust that holds a portfolio of common stocks that track the price and yield of the S&P 500 Index.
 -- Multiple Currency Warrants, the first of its kind to trade on a U.S. exchange. These warrants represent the value of the U.S. dollar in relation to the combined currencies of the British Pound, the Deutsche mark and the Japanese yen.
 -0- 4/6/93
 /CONTACT: Bob Shabazian of American Stock Exchange, 212-306-1630, or home, 201-385-0746/


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

SM -- NY038 -- 3421 04/06/93 12:06 EDT
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Date:Apr 6, 1993
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