-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 C581r0VjRut9ebPJd5MeFYkQaql5qteDTPlIaSP2MEGo16g/GZ3iU4t83Hgldrc6
 jiOYEoEiS1xUwqV0pgwMsA==

<SEC-DOCUMENT>0000950123-97-008411.txt : 19971010
<SEC-HEADER>0000950123-97-008411.hdr.sgml : 19971010
ACCESSION NUMBER:		0000950123-97-008411
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19971009
SROS:			NASD

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAINE WEBBER GROUP INC
		CENTRAL INDEX KEY:			0000075754
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				132760086
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		
		SEC FILE NUMBER:	033-52695
		FILM NUMBER:		97692794

	BUSINESS ADDRESS:	
		STREET 1:		1285 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127132000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINE WEBBER INC
		DATE OF NAME CHANGE:	19840523
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>PAINE WEBBER GROUP INC.
<TEXT>

<PAGE>   1
                                Filed pursuant to Rule 424(b)(3).
                                This pricing supplement relates to
                                Registration Statement Nos. 33-52695
                                and 333-17913.


                Pricing Supplement No. 51 Dated July 24, 1997
                (To Prospectus Dated December 23, 1996 and
                Prospectus Supplement Dated December 23, 1996)


                            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)


<TABLE>
<S>                                 <C>
Designation:                        Medium Term Senior Notes, Series C

Original Issue Date:                October 14, 1997

Principal Amount:                   $25,000,000

Interest Rate Per Annum:            7.39%

Specified Currency in which         U.S. Dollars
Denominated:                           


Stated Maturity:                    October 16, 2017

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

Regular Record Dates:               February 15 and August 15

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

Note(s) Represented By:             [x] Global Note
                                    [ ] Certificated note(s)

</TABLE>


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----