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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 +rBQ8nwqhnh8WobvPc1KHA==

<SEC-DOCUMENT>0000950123-99-004949.txt : 19990520
<SEC-HEADER>0000950123-99-004949.hdr.sgml : 19990520
ACCESSION NUMBER:		0000950123-99-004949
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990519

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:	333-17913
		FILM NUMBER:		99630212

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

	MAIL ADDRESS:	
		STREET 1:		1285 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINE WEBBER INC
		DATE OF NAME CHANGE:	19840523
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>PRICING SUPPLEMENT NO. 108
<TEXT>

<PAGE>   1


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


                Pricing Supplement No. 108 Dated May 18, 1999
                 (To Prospectus Dated September 23, 1998 and
               Prospectus Supplement Dated September 23, 1998)
                                      
                                      
                           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 20, 1999

Principal Amount:                   $45,000,000

Interest Rate Per Annum:            5.500%

Specified Currency in which
Denominated:                        U.S. Dollars

Stated Maturity:                    May 15, 2000

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

Regular Record Dates:               15 Days Prior to the Interest Payment Dates

Interest Payment Dates:             May 15 and November 15

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

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

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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