1
                                           Filed pursuant to Rule
                                           424(b)(3).  This Pricing
                                           Supplement relates to
                                           Registration  Statements No.
                                           33-58124 and 33-51149




              Pricing Supplement No. 017 Dated February 1, 1994
                  (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
                             (Floating Rate Notes)

                                    
Designation:                           Medium-Term Senior Notes, Series C
                                       ----------------------------------
                                       
Original Issue Date:                   December 20, 1993  
                                       ------------------
                                       
Principal Amount:                      $50,000,000       
                                       ------------------
                                       
Interest Rate Basis:                   [ ] Commercial Paper Rate
                                       [X] Prime Rate
                                       [ ] Federal Funds Rate
                                       [ ] LIBOR
                                            [X] Telerate Screen Page 3750
                                            [ ] Reuters Screen LIBO Page
                                       [ ] Treasury Rate
                                       ------------------
                                       
Index Maturity:                        Daily        
                                       ------------------
                                       
Spread                                 Minus 253 Basis Points   
                                       ------------------
                                       
Initial Interest Rate:                 3.47%
                                       -------------------
                                       
Interest Payment Dates:                Monthly, last 
                                       business day of 
                                       each month
                                       ------------------
                                       
                                       
Interest Reset Dates:                  Rate refixes 
                                       daily off of the 
                                       Federal Reserve bank 
                                       of New York; H-15
                                       call report on prime
                                       postings.           
                                       ------------------
                                       
Specified Currency
  in which Denominated:                U.S. Dollars      
                                       ------------------
                                       
Stated Maturity:                       October 31, 1994  
                                       ------------------

Issue Price (As a Percentage            
  of Principal Amount):                100%              
                                       ------------------
                                       
Redemption and Early                   The Note cannot be
  Repayment Provisions:                redeemed prior to
                                       Stated Maturity   
                                       ------------------


Note(s) represented by:                [X] Global Note
                                       [ ] Certificated Note(s)