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PCX to Trade Options on United Auto Group, Inc.

30 April 1998

PCX to Trade Options on Telegroup, Inc., and United Auto Group, Inc.

    SAN FRANCISCO, April 29 -- The Pacific Exchange (PCX) will
begin trading options on Telegroup, Inc., and United Auto Group, Inc., on
Friday, May 1, 1998.
    Telegroup, Inc. (TGRP/GQR), will open with strike prices of
12 1/2, 15, and 17 1/2, and will be available for the months of May, June,
September, and December.  Position and exercise limits have been set at
4,500 contracts, and the disseminated market quote is firm for 50 contracts.
GQR options have been allocated to lead market maker Sheldon Kahn of Pacific
Coast Capital.
    United Auto Group, Inc. (UAG), will open with strike prices of 15, 17 1/2,
and 20, and will be available for the months of May, June, August, and
November. Position and exercise limits have been set at 7,500 contracts, and
the disseminated market quote is firm for 20 contracts.  The underlying stock
is available at the Pacific Exchange.  UAG options have been allocated to lead
market makers Debbie Green and Alan Suslow of Group One Trading, L.P.

SOURCE  The Pacific Exchange