Withdrawal of Notice of Proposed Amendments to Prohibited Transaction Exemption (PTE 93-69) Involving the Navistar International Transportation Corporation (Navistar); Located in Chicago, IL and the Supplemental Program Committee of the Navistar International Transportation Corporation Retiree Health Benefit and Life Insurance Plan (Supplemental Program Committee) Located in Euclid, OH

DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration

Withdrawal of Notice of Proposed Amendments to Prohibited

Transaction Exemption (PTE 93-69) Involving the Navistar International

Transportation Corporation (Navistar); Located in Chicago, IL and the

Supplemental Program Committee of the Navistar International

Transportation Corporation Retiree Health Benefit and Life Insurance

Plan (Supplemental Program Committee) Located in Euclid, OH

[Exemption Application Nos. D-10470 and D-10576]

AGENCY: Pension and Welfare Benefits Administration, Department of

Labor.

ACTION: On June 19, 1998 the Department of Labor (Department) published

a notice of proposed amendments (the Notice) to PTE 93-69 (63 FR

33732). The Notice concerned proposed amendments to PTE 93-69 to permit

the Supplemental Benefit Program Trust (Trust) to sell Navistar

International Corporation (NIC) common stock to either NIC or Navistar

after the expiration of the lockup period (July 1, 1998) and to allow

William Craig, a member of the Supplemental Program Committee, to serve

on the NIC board of directors.

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In a comment letter dated June 18, 1998, Navistar's representative

informed the Department that the Trust sold all of the shares which

would have been the subject of the amendments. Since the Trust no

longer holds the stock it no longer has the right to appoint any

members of the board of directors of NIC.1

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\1\ PTE 93-69 provided, in part, an exemption from certain

prohibited transaction restrictions of the Employee Retirement

Income Security Act of 1974 for the acquisition and holding by the

Navistar International Transportation Corporation Retiree Health

Benefit and Life Insurance Plan of shares of Class B common stock

and Series A preference stock of NIC.

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Due to the above noted changes regarding the facts and

representations contained in the applications, the Department has

determined to withdraw this notice of proposed amendments from the

Federal Register. Accordingly, this notice of pendency is hereby

withdrawn.

Signed at Washington, DC this 30th day of June, 1998.

Ivan L. Strasfeld,

Director of Exemption Determinations, Pension and Welfare Benefits

Administration, U.S. Department of Labor.

[FR Doc. 98-18009 Filed 7-7-98; 8:45 am]

BILLING CODE 4510-29-P