Washington (March 10, 2004) -- Sources in the nation's capitol report that the Securities and Exchange Commission has issued subpoenas to all New York Stock Exchange directors who served during the eight-year period Richard Grasso was chairman and CEO of the exchange.

The move is said to be part of efforts to determine how the exchange's board approved Grasso's $139.5 million compensation arrangement. Grasso resigned last September under pressure from investors.

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