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Amex to Trade Four New Options Next Week

1 October 1997

Amex to Trade Four New Options Next Week

    NEW YORK, Oct. 1 -- The American Stock Exchange today
announced it will trade options on the listed stock of Avis Rent A Car, Inc.
(stock/option symbol:  AVI), the over-the-counter stock of QIAGEN N.V.
(stock/option symbol:  QGENF/QXE) and the Amex-listed stocks of Andrea
Electronics Corporation (stock/option symbol:  AND) and UTI Energy Corporation
(stock/option symbol:  UTI) beginning Wednesday, October 8.
    Avis Rent A Car, Inc., based in Garden City, New York, rents vehicles
nationwide to businesses and leisure travelers in both airport and non-airport
markets.  AVI will open with strike prices of 22-1/2, 25 and 30, with position
limits of 7,500 contracts.  Initial expiration months will be November and
December of 1997 and March and June of 1998.  The specialist unit for the new
options will be Spear, Leeds & Kellogg.
    QIAGEN N.V., based in Amsterdam, The Netherlands, provides technology used
for the separation and purification of nucleic acids.
    QXE will open with strike prices of 40, 45 and 50, with position limits of
4,500 contracts.  Initial expiration months will be November and December of
1997 and February and May of 1998.  The specialist unit for the new options
will be AGS Specialist Partners.
    Andrea Electronics, based in Long Island City, New York, produces and
designs electronic audio systems, intercommunication systems and related
equipment.  The Company's products are used by both the military and
industrial companies.
    AND will open with strike prices of 22-1/2, 25 and 30, with position
limits of 10,500 contracts.  Initial expiration months will be November and
December of 1997 and February and May of 1998.  The specialist unit for
the new options will be Cohen, Duffy & McGowan, Inc.
    UTI Energy Corporation, based in Houston, Texas, provides contract
drilling and pressure pumping services.  The company provides services
primarily in Texas, Oklahoma and the Northeast.
    UTI will open with strike prices of 35, 40 and 45, with position limits of
4,500 contracts.  Initial expiration months will be November and December of
1997 and January and April of 1998.  The specialist unit for the new options
will be Spear, Leeds & Kellogg.
    The Amex trades options on 29 broad-based and sector indexes and
823 stocks -- including 359 over-the-counter stocks and 77 American Depositary
Receipts (ADRs) -- and 95 Long-term Equity AnticiPation Securities(R)
(LEAPS(R)).  In addition, the Amex is a leader in listing warrants on foreign
currencies and indexes as well as hybrid instruments and other structured
products.

     Visit Amex web site located at http://www.amex.com

SOURCE  American Stock Exchange