Amex to List Options on General Motors Corporation Class H Stock

24 May 1999
Amex to List Options on General Motors Corporation Class H Stock
    NEW YORK, May 21 -- The American Stock Exchange today
announced it expects to trade options on the listed Class H stock of General
Motors Corporation (stock/options symbol: GMH) beginning Monday, May 24.
    General Motors Corporation Class H stock, based in El Segundo, California,
represents Hughes Electronics.  The company produces communications and auto
electronics products.
    GMH contracts expiring in June 1999 will open with initial strike prices
of 30, 35, 40, 45, 50, 55, 60, 65 and 70.  July 1999 contracts will open with
initial strike prices of 55, 60 and 65.  September 1999 contracts will open
with initial strike prices of 40, 45, 50, 55, 60, 65 and 70.  December 1999
contracts will open with initial strike prices of 50, 55, 60, 65 and 70.
Position limits for GMH will be 60,000 contracts.  The specialist unit for the
new options will be Cohen, Duffy & McGowan, Inc.
    The Amex trades options on 29 broad-based and sector indexes and
1,102 domestic and foreign stocks, as well as Long-term Equity AnticiPation
Securities(R) (LEAPS(R)) on 121 stocks.  Amex is a leader in listing warrants
on indexes, hybrid instruments and other structured products.  The Amex is
home to the Index Share(TM) Marketplace, which includes SPDRs(R), Select
Sector SPDRs(R), DIAMOND(SM), MidCap SPDRs(TM), WEBS(TM) and Nasdaq-100
Shares(SM).
    The Nasdaq-Amex Market Group(SM), which operates The Nasdaq Stock
Market(R) and the American Stock Exchange(R), is a subsidiary of the National
Association of Securities Dealer, Inc., (NASD(R)), the largest
securities-industry, self-regulatory organization in the United States.  The
union of Nasdaq(R) and Amex(R) creates the world's first financial market that
brings together central auction specialist and multiple Market Maker systems.
    For more information about The Nasdaq-Amex Market Group, visit the
Nasdaq-Amex Web site at http://www.nasdaq-amex.com or the Nasdaq-Amex
Newsroom(SM) at http://www.nasdaq-amexnews.com.