Amendments to Rules on Shareholder Proposals

SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-39336; IC-22896; File No. S7-25-97]

RIN 3235-AH20

Amendments to Rules on Shareholder Proposals

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule; Extension of comment period.

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SUMMARY: The Securities and Exchange Commission (``we'' or

``Commission'') is extending the comment period for its proposals to

amend rule 14a-8, and related rules, set forth in Securities Exchange

Act Release No. 39093 (9/18/97), 62 FR 50682 (9/26/97) (the

``Release''). The original deadline established by the Release was

November 25, 1997. The new deadline is January 2, 1998.

DATES: Public comments are due on or before January 2, 1998.

ADDRESSES: Please send three copies of the comment letter to Jonathan

G. Katz, Secretary, U.S. Securities and Exchange Commission, 450 Fifth

Street, N.W., Washington, D.C. 20549. Comment letters can be sent

electronically to the following e-mail address: [email protected].

The comment letter should refer to File No. S7-25-97; if e-mail is used

please include the file number in the subject line. Anyone can inspect

and copy the comment letters in the SEC's Public Reference Room, 450

Fifth Street, N.W., Washington, D.C. 20549. We will post comment

letters submitted electronically on our Internet site (http://

www.sec.gov).

FOR FURTHER INFORMATION CONTACT: Frank G. Zarb, Jr., Special Counsel,

Office of Chief Counsel, Division of Corporation Finance, at (202) 942-

2900, or Doretha M. VanSlyke, Division of Investment Management, at

(202) 942-0721, Securities and Exchange Commission, 450 Fifth Street

N.W., Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: On September 18, 1997, the Commission issued

the Release, proposing amendments to rule 14a-8,\1\ the shareholder

proposal rule, and related amendments to rules 14a-4,\2\ 14a-5,\3\ 14a-

2,\4\ and 13d-5.\5\ The deadline for submitting public comments

established by the Release was November 25, 1997. The Commission has

received requests to extend the deadline. We are therefore extending

the comment period to January 2, 1998, so that commenters are ensured

of adequate time to fully address the issues raised by the Release.

\1\ 17 CFR 240.14a-8.

\2\ 17 CFR 240.14a-4.

\3\ 17 CFR 240.14a-5.

\4\ 17 CFR 240.14a-2.

\5\ 17 CFR 240.13d-5.

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Dated: November 19, 1997.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97-30922 Filed 11-24-97; 8:45 am]

BILLING CODE 8010-01-M