1
  
                                        Filed pursuant to Rule 424(b)(3)
                                        This pricing supplement relates to
                                        Registration Statement Nos. 33-58124
                                        and 33-51149


                 Pricing Supplement No. 56 Dated May 31, 1995
                  (To Prospectus Dated November 29, 1993 and
                Prospectus Supplement Dated November 30, 1993)


                           PAINE WEBBER GROUP INC.

                              Multiple Currency
                      MEDIUM-TERM SENIOR NOTES, SERIES C
             Due from Nine Months to 30 Years from Date of Issue
                              (FIXED RATE NOTES)


Designation:                            MEDIUM TERM SENIOR NOTES,
                                        SERIES C

Original Issue Date:                    May 31, 1995

Principal Amount:                       $25,000,000

Interest Rate Per Annum:                7.16%

Specified Currency in which             U.S. Dollars
Denominated:

Stated Maturity:                        June 15, 1999

Issue Price (As a Percentage            100%
of Principal Amount):

Regular Record Dates:                   15 Calendar Days prior to each
                                        Interest Payment Date

Redemption and Early                    The Note cannot be redeemed
Repayment Provisions:                   prior to Stated Maturity

Note(s) Represented By:                 [X] Global Note
                                        [ ] Certificated Note(s)