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AMEX TO INTRODUCE TRADING IN LEAPS ON SIX OPTIONS

 NEW YORK, Feb. 23 /PRNewswire/ -- The American Stock Exchange today said that on Wednesday, Feb. 24, it will open LEAPS(TM) (Long-term Equity AnticiPation Securities) on six options: Chemical Banking Corporation; International Game Technology; Merrill Lynch & Co., Inc.; Tele-Communications, Inc.; Unisys Corporation; and Warner-Lambert Company.
 LEAPS are put and call options on underlying stocks that have expirations of up to three years. They allow investors to act on an opinion of the movement of a stock over a longer term than regular options.
 Strike prices, symbols and expiration dates are as follows:
 LEAPS Expiration Strike
 Company Symbol Dates Prices
 Chemical Banking Corp. WCK January 1994 30, 40, 50
 VCK January 1995 30, 40, 50
 International Game Tech. WGG January 1994 45, 55, 70
 VGG January 1995 45, 55, 70
 Merrill Lynch & Co., Inc. WMI January 1994 50, 65, 80
 VME January 1995 50, 65, 80
 Tele-Communications, Inc. WTC January 1994 17-1/2, 22-1/2, 30
 VTM January 1995 17-1/2, 22-1/2, 30
 Unisys Corporation WUI January 1994 7-1/2, 10, 12-1/2
 VUI January 1995 7-1/2, 10, 12-1/2
 Warner-Lambert Company WWL January 1994 50, 65, 80
 VWL January 1995 50, 65, 80
 The AMEX trades a total of 304 stock options, including 85 options on over-the-counter stocks, as well as 35 LEAPS. In addition, options are traded on six broad-market indexes -- the Major Market Index (XMI), the XMI LEAPS Index (XLT), the S&P MidCap 400 Index (MID), the Institutional Index (XII), the Japan Index (JPN) and the EUROTOP 100 Index (EUR) -- as well as four industry based indexes -- the Oil Index (XOI), the Computer Technology Index (XCI), the Pharmaceutical Index (DRG) and the Biotechnology Index (BTK).
 -0- 2/23/93
 /CONTACT: Kathleen Fitzpatrick, manager-derivative securities communications of AMEX, 212-306-1697/


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

GK -- NY044 -- 9378 02/23/93 11:31 EST
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Date:Feb 23, 1993
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