FOR IMMEDIATE RELEASE                                    2000-128

       Jennifer Scardino, Chief of Staff to the Chairman,
          to Leave the SEC After Seven Years of Service
                                
                Tracey Aronson Named as Successor

     Washington, DC, September 14, 2000 - Jennifer A. Scardino,
Chief of Staff to Securities and Exchange Commission Chairman
Arthur Levitt, today announced that she will leave the Commission
to join the London office of Citigroup as Director of Corporate
Affairs for Europe, the Middle East, and Africa.  Ms. Scardino
will begin her new duties in October.  Chairman Levitt today
named Tracey E. Aronson as his new Chief of Staff, who will begin
her duties October 1, 2000.

     Chairman Levitt said, "Jennifer has been by my side since my
first day at the Commission.  She has been an integral part of
every significant policy action the Commission has undertaken.
Her strategic skills are unparalleled, her insightfulness is
refreshing, and her commitment to quality is unending.  I will
miss her counsel but always treasure her warm friendship.
America's investors have benefited greatly from her total
commitment to this agency.  I wish Jennifer and her family the
best of what life has to offer."

     Ms. Scardino said, "My years at the SEC have been both
professionally challenging and personally rewarding.  I've had
the opportunity to be involved in interesting and important
issues and to work with bright and wonderful people.  Most of
all, I have enjoyed the great fortune of Arthur Levitt's
leadership and friendship.  I take away many special memories and
experiences and leave behind a talented team to carry out the
important issues on Chairman Levitt's agenda."

     Before becoming Chief of Staff, Ms. Scardino was Director of
the SEC's Office of Public Affairs, Policy Evaluation and
Research from 1993 to 1996.  In that capacity, she served as the
Chairman's chief media strategist and the agency's chief
spokesperson.

     From 1989 to 1993, Ms. Scardino was Assistant Press
Secretary to New York City Mayor David N. Dinkins.

     Ms. Scardino, 32, earned her B.A. cum laude and with honors
from Barnard College, Columbia University.

                          *  *  *  *  *
                                
     Chairman Levitt today named Tracey E. Aronson as his new
Chief of Staff.  Chairman Levitt said, "I am pleased to welcome
Tracey to this important role.  Throughout her career at the
Commission, Tracey has demonstrated excellent judgment, gracious
tenacity, and keen problem solving skills.  I rely on Tracey's
counsel and judgment and look forward to a smooth transition.
There are many important issues facing the Commission, and we
will continue to work tirelessly on behalf of America's
investors."
     Ms. Aronson said, "I am honored to have the opportunity to
work with Chairman Levitt and to serve the Commission during this
dynamic time for our markets and for America's investors.  I look
forward to the challenge of my new responsibilities and to
furthering the initiatives and goals that are important to the
Chairman, this Commission, and U.S. investors."

     Before her appointment as Chief of Staff, Ms. Aronson was
Director of the SEC's Office of Congressional and Legislative
Affairs.  She served as Counsel to the Chairman prior to
assuming that position.  Before joining the executive staff, Ms.
Aronson worked as Special Trial Counsel in the Commission's
Office of General Counsel, as well as Special Counsel in the
Division of Enforcement.  She was a litigation associate with the
Washington, DC office of Kaye, Scholer, Fierman, Hayes & Handler,
LLP before coming to the Commission in 1992.

     Ms. Aronson, 39, earned her A.B. magna cum laude and with
honors from Brown University and her J.D from the Georgetown
University Law Center.

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