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SPEAR FINANCIAL ANNOUNCES NEW STOCK SYMBOL

 SAN DIEGO, March 30 /PRNewswire/ -- Spear Financial Services Inc. (NASDAQ-NMS: SFNS) announced today that it will change the symbol under which its common stock trades on the NASDAQ National Market System and the Pacific Stock Exchange. According to James K. Mitchell, chairman and chief executive officer, Spear's NASDAQ symbol will be changed to "JMCG" and the Pacific Stock Exchange symbol changed to "JMC." The new symbols will be effective April 5, 1993.
 "With the divestiture of the securities operations, which we expect to complete by the end of the second quarter, James Mitchell & Co. will be the sole operating subsidiary of the company," said Mitchell. "In management's view, the new stock symbol will better reflect the company's core business following the change."
 Separately, a proposal to change the name of the corporation to "JMC Group Inc." has been approved by the company's board of directors for submission for shareholder approval at the company's annual meeting on June 11, 1993.
 Spear Financial Services Inc., through its subsidiary, James Mitchell & Co., is a leading marketer of annuities and other insurance products and mutual funds to customers of financial institutions.
 -0- 3/30/93
 /CONTACT: Douglas Sherk or Jenifer Kirtland, 415-296-7383, or Michele Katz or Miriam Adler, 212-986-5900, all of Morgen-Walke, for Spear Financial/
 (SFNS)


CO: Spear Financial Services Inc.; James Mitchell & Co. ST: California IN: FIN SU:

SG-GT -- SF003 -- 0808 03/30/93 06:30 EST
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Publication:PR Newswire
Date:Mar 30, 1993
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