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AMEX TO TRADE OPTIONS ON AMEX-LISTED ALC COMMUNICATIONS CORPORATION

 NEW YORK, April 22 /PRNewswire/ -- The American Stock Exchange today announced it will open put and call options trading on Friday, April 23, on the Amex-listed ALC Communications Corporation (ticker symbol: ALC).
 Headquartered in Bingham Farms, Mich., ALC Communications is the holding company for Allnet Communication Services, a national long distance telephone company that competes with AT&T, MCI and Sprint. The company targets small and medium-sized commercial customers.
 ALC will open with strike prices of 15, 17-1/2 and 20 with position limits of 5,500 contracts. Initial expiration months will be May, June, September and December of 1993. Spear, Leeds and Kellogg is the specialist unit for the new options.
 The Amex trades a total of 316 stock options, including 84 options on over-the-counter stocks, as well as 42 LEAPS(TM) (Long-term Equity AnticiPation Securities). In addition, options are traded on six broad- market indexes -- the Major Market Index (XMI), the XMI LEAPS(TM) 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 five industry based indexes -- the Oil Index (XOI), the Computer Technology Index (XCI), the Pharmaceutical Index (DRG), the DRG LEAPS(TM) Index (DGL) and The Biotechnology Index (BTK).
 -0- 4/22/93
 /CONTACT: Kathleen Fitzpatrick, manager of Derivative Securities Communications, 212-306-1697/
 (ALC)


CO: ALC Communications Corporation ST: Michigan IN: TLS SU:

SH -- NY017 -- 9197 04/22/93 08:53 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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