OTHER NEWS - April 3, 1996

Salomon’s Moran Wins Dismissal of SEC Charges: Salomon Bros. Inc. telecommunications analyst Frederick W. Moran and his father, a money manager, won a dismissal of insider trading charges filed by the Securities and Exchange Commission. The SEC sued Moran and his father, Frederick A. Moran, in June, accusing them of insider trading involving the failed 1993 merger of Bell Atlantic Corp. and Tele-Communications Inc. The ruling said the analyst improperly used his job to help his father’s business in other ways but the help wasn’t illegal. Acting U.S. District Judge Bernard Newman rejected the SEC’s main charges that father and son made $2.4 million in illegal trading profits using nonpublic information that the younger Moran received in his work at Salomon Bros., Bell Atlantic’s advisor in the negotiations.