OTHER NEWS - May 18, 1995

Smith Barney Seeks Damages From Former Executive: The nation’s second-largest securities firm filed an arbitration counterclaim against Michael R. Lissack for $15 million, alleging that the municipal bond official spread false statements about Smith Barney Inc. after he was given a reduced bonus for 1994. Lissack filed a New York Stock Exchange arbitration claim against the firm in February, charging that it directed him to withhold information from federal regulators. Regulators are investigating allegations of corruption and possible conflicts of interest in the $1.2-trillion municipal bond market. Smith Barney’s counterclaim charges that the former managing director engaged in a “campaign of disseminating derogatory documents and misinformation for the purpose of damaging existing and prospective business relations.”