EXHANGEABLE SECURITIES TRUST
September 30, 1999
VIA ELECTRONIC FILING
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Exchangeable Securities Trust
CIK NO. 0001013470
Request for Withdrawal of Registration Statement
on Form N-2 (File Nos. 333-3181, 811-7617)
Dear Sirs:
On May 6, 1996, Exchangeable Securities Trust (the "Fund") filed with
the Securities and Exchange Commission a registration statement on Form
N-2 (File No. 333-3181; the "Registration Statement") under the
Securities Act of 1933 (the "Securities Act"). Since that filing, the
Fund has determined for various business reasons not to proceed with an
offering of its securities.
Therefore, pursuant to Rule 478 under the Securities Act as agent for
service named in the Registration Statement, Salomon Smith Barney Inc.
hereby requests withdrawal of the Fund's Registration Statement
pursuant to Rule 477(a) under the Securities Act.
Please return an electronic transmittal as evidence of your receipt of
this filing.
Any questions regarding this filing should be directed to the
undersigned at (212) 816-6474.
Very truly yours,
SALOMON SMITH BARNEY INC.
/s/ Christina T. Sydor
Christina T. Sydor
Managing Director
cc: Ajay Mehra
