<PAGE> 1
Filed pursuant to Rule
424(b)(3). This Pricing
Supplement relates to
Registration Statements No.
33-58124 and 33-51149
Pricing Supplement No. 034 Dated July 11, 1994
(To Prospectus Dated November 29, 1993 and
Prospectus Supplement Dated November 30, 1993)
PAINE WEBBER GROUP INC.
Multiple Currency
Medium-Term Subordinated Notes, Series C
Due from Nine Months to 30 Years from Date of Issue
(Floating Rate Notes)
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<S> <C>
Designation: Medium-Term Subordinated Notes, Series C
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Original Issue Date: July 18, 1994
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Principal Amount: $2,000,000
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Interest Rate Basis: [ ] Commercial Paper Rate
[ ] Prime Rate
[ ] Federal Funds Rate
[X] LIBOR
[X] Telerate Screen Project 3750
[ ] Reuters Screen LIBO Page
[ ] Treasury Rate
------------------
Interest Payment Dates: Third Wednesday of
September, December,
March and June
------------------
Interest Determination Second London Business
Dates: Day Proceeding the
Interest Reset Date
------------------
Interest Reset Dates: Third Wednesday of
September, December
March and June
------------------
Regular Record Dates: 15 Calendar Days
Prior to Each Interest
Payment Date
-------------------
Specified Currency
in which Denominated: U.S. Dollars
-------------------
Stated Maturity: July 18, 1996
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Index Maturity: Quarterly
-------------------
Initial Interest Rate: 5.3375%
-------------------
Spread: 3 Month Libor Plus
40 basis points
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Issue Price (As a Percentage
of Principal Amount): 100%
------------------
Redemption and Early The Note cannot be
Repayment Provisions: redeemed prior to
Stated Maturity
------------------
Note(s) represented by: [X] Global Note
[ ] Certificated Note(s)
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