11. Ranking of Top 20 International Stock Exchanges by Market
    Capitalisation as at 30 June 1997(US$ millions)


RANK     STOCK EXCHANGE     MARKET CAP

1.       New York           7,578,788.2
2.       Tokyo              3,023,649.5
3.       Chicago #          1,849,697.3
4.       London             1,820,697.4
5.       Nasdaq             1,560,393.8
6.       Germany              746,596.6
7.       Paris                580,978.5
8.       Toronto              533,474.4
9.       Hong Kong            527,802.9
10.      Switzerland          482,971.4
11.      Amsterdam            425,238.7
12.      Australia            323,152.4
13.      Taiwan               313,017.8
14.      Kuala Lumpur         310,877.8
15.      Rio de Janeiro       288,751.1
16       Madrid               271,332.9
17.      Johannesburg         268,052.3
18.      Sao Paulo #          265,570.9
19.      Italian              265,396.7
20       Stockholm            251,678.5


# Statistics not available for May 1997, April figures have been used



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