FOR IMMEDIATE RELEASE                                    2000-39

            Commissioner Norman Johnson to Leave SEC

     Washington, DC, March 22, 2000 - Commissioner Norman S.
Johnson today announced plans to leave the Securities and
Exchange Commission before the end of this summer to return to
his home state of Utah.
     
     SEC Chairman Arthur Levitt said, "Norman Johnson has served
the Commission and America's investors with great diligence,
commitment, and distinction.  I will miss Norman as a friend and
colleague.  His contributions to our varied policy discussions
over the years have been insightful and invaluable.  On behalf of
the Commission I thank Norman for his service and wish him well
in his future endeavors."

     Commissioner Isaac C. Hunt, Jr., said, "Norm Johnson and I
were nominated together and went through the confirmation process
together.  I have accordingly always regarded him as not only a
close colleague, but also a brother.  Although we are of
different political parties, we have remarkably similar voting
records on the issues we faced as Commissioners over the past
four years.  I will miss his wisdom and perceptive insights."
Commissioner Paul R. Carey said, "I have enjoyed having Norm
Johnson as a colleague and a friend.  He has made great
contributions to the SEC, the most notable of which may be his
role as a tireless advocate for small business.  I wish Norm and
his family much happiness in the years to come."  Commissioner
Laura S. Unger stated, "I am pleased to have had the privilege of
serving on the Commission with Norman Johnson.  The agency is
very fortunate to have had such an able attorney return as a
policy maker.  Commissioner Johnson will be missed for both his
wisdom and his wit."

     Commissioner Johnson said, "I have greatly enjoyed my four
years at the Commission, and I feel very fortunate to have had
the opportunity to work with such distinguished public servants
as Chairman Levitt and my fellow Commissioners, present and
former: Paul Carey, Isaac Hunt, Laura Unger, and Steven Wallman.
The Commission also has an extraordinary staff, comprised of many
of the most able and dedicated professionals in all of
government.  It has been an exciting period to have served at the
Commission and I will miss having regular contact with my
colleagues and the staff.  Looking forward, I do plan to continue
my active involvement in professional, business, and community
matters.  I also hope to spend more time with my family,
including my wife Carol, our daughters Kelly, Catherine, and
Lisa, and our 10 grandchildren."

     Commissioner Johnson's accomplishments at the SEC include
his scrutiny of the Commission's uses of its Rule of Practice
102(e) to discipline accountants and lawyers, culminating in the
publication of a 1999 Utah Law Review article, "`Deja Vu All Over
Again': The Securities and Exchange Commission Once More Attempts
to Regulate the Accounting Profession Through Rule 102(e) of Its
Rules of Practice."  In connection with other accounting issues,
Commissioner Johnson has strongly supported the SEC's initiatives
in the area of auditor independence by, among other things,
giving a well-received series of speeches across the country
explaining the Commission's concerns.  Commissioner Johnson also
has served as an advisory member of the Mutual Fund Directors
Education Council, which is headed by former SEC Chairman David
Ruder.  As a member of the Mutual Fund Directors Education
Council, Commissioner Johnson coordinated efforts by SEC staff to
support the Council in providing educational programs and
information for independent investment company directors.  In
addition, Commissioner Johnson has had an active involvement in
small business matters, including presiding at SEC-sponsored
Small Business Town Hall Meetings in Las Vegas and Salt Lake City
and delivering remarks to the 18th Annual Government-Business
Forum on Small Business Capital Formation.  Many of Commissioner
Johnson's speeches are available on the SEC's website.
     
     Commissioner Johnson has served at the SEC since February
1996.  Prior to his appointment, Commissioner Johnson had a
distinguished 30-year career as a private securities practitioner
based in Salt Lake City, including many years as a partner in the
law firm of Van Cott, Bagley, Cornwall & McCarthy.  From 1965
through 1967, Commissioner Johnson served as an SEC staff
attorney.  Commissioner Johnson's early career also included
stints as an Assistant Attorney General in Utah and as a law
clerk to the Chief Justice of the Utah Supreme Court.  While in
private practice, Commissioner Johnson served as President of the
Utah State Bar Association, was elected to serve as a State
Delegate to the American Bar Association, and was named Chairman
of the Utah Governor's Advisory Board on Securities Matters.
Commissioner Johnson also served on the Utah Governor's Task
Force on Officer and Director Liability and other committees
concerned with the application of federal and state securities
laws.
                                
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