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HARRIS BANK ANALYSTS OFFER INVESTMENT STRATEGIES DEPENDING ON BUSH OR CLINTON WIN

 HARRIS BANK ANALYSTS OFFER INVESTMENT
 STRATEGIES DEPENDING ON BUSH OR CLINTON WIN
 CHICAGO, Oct. 7 /PRNewswire/ -- Who to vote for isn't the only decision people will have to make Nov. 3.
 No matter who wins the presidential election, people will have to make some changes to their investment strategies based on each candidate's proposed economic program, advises Harris Bank's Chief Investment Officer David Mead and Manager of Harris Financial Planning Services Creg Ostler.
 "If Clinton wins, there will be a definite change, and even with a Bush win, people can expect change. It's just a matter of how much and when," explains Mead. "The better investors are prepared for a changing economic environment, the more they can tailor their investment strategies to take advantage of that change."
 If Bush's economic programs are enacted, Mead expects lower capital gains and income taxes, an easing of government regulation and greater emphasis on privatizing government operations. Mead and Ostler suggest the following investment strategies if President Bush wins:
 -- Consider adding to international stock fund positions. Free trade benefits all sides and should eventually lift global economic activity. However, foreign currencies appear overvalued compared to the dollar. This could hurt international investing.
 -- Be cautious about new stock market commitments. The market still appears a little top-heavy and vulnerable to bad economic news.
 Mead believes a Clinton win would mean higher tax rates, particularly for higher-income people, increased government regulation, more government-funded job programs and a probable muting or reversal of the trend towards free trade.
 If Gov. Clinton wins, Mead and Ostler suggest the following investment strategies:
 -- Buy tax-free bonds instead of taxable bonds. In a higher tax environment, municipal bonds are more valuable than government or corporate bonds.
 -- Hold back on new commitments to the stock market. Higher taxes and regulation would hold down business activity and reduce corporate earnings.
 -- Give up on the idea of lower capital gains taxes.
 No matter who wins, Mead and Ostler suggest moving some of the money in savings and money market accounts into short-term CDs or bonds. Short-term interest rates are expected to stay low until the economy recovers, so people can expect low interest rates for some time. However, by having some money in short-term vehicles, the money will be available relatively soon if rates rise again and ready for reinvesting in higher yielding accounts.
 -0- 10/7/92
 /NOTE TO EDITORS: Media can contact David Mead directly at 312-461-7756. These strategies were developed before Ross Perot announced his re-entry in the Presidential race./
 /CONTACT: Pam Kassner of Harris Trust and Savings Bank, 312-461-6625/ CO: Harris Bank ST: Illinois IN: FIN SU: ECO


TS -- NY010 -- 7352 10/07/92 09:28 EDT
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Date:Oct 7, 1992
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