<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. 049 Dated September 23, 1994
(To Prospectus Dated November 29, 1993 and
Prospectus Supplement Dated November 30, 1993)
PAINE WEBBER GROUP INC.
Multiple Currency
Medium-Term Senior Notes, Series C
Due from Nine Months to 30 Years from Date of Issue
(Fixed Rate Notes)
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<S> <C>
Designation: Medium-Term Senior Notes, Series C
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Original Issue Date: September 30, 1994
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Principal Amount: $1,000,000
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Regular Record Dates: 15 Calendar Days
Prior to Each Interest
Payment Date
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Specified Currency
in which Denominated: U.S. Dollars
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Stated Maturity: September 30, 1997
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Initial Interest Rate: 7.430%
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Issue Price (As a Percentage
of Principal Amount): 100%
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Redemption and Early The Note cannot be
Repayment Provisions: redeemed prior to
Stated Maturity
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Note(s) represented by: [X] Global Note
[ ] Certificated Note(s)
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