UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: Mar 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings
entries.
Institutional Investment Manager Filing this Report:
Name: New Mexico Educational Retirement Board
Address: 701 Camino de Los Marquez
Santa Fe, New Mexico 87501
13F File Number: 28-2695
The institutional investment manager filing this report and
the person by whom it is signed hereby represent that the
person signing the report is authorized to submit it, that
all information contained herein is true, correct and
complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered
integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Selma A Arnold
Title: Investment Officer II
Phone: 505-827-8030
Signature, Place, and Date of Signing:
Selma A Arnold, Santa Fe, New Mexico, April 26, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES
EXCHANGE ACT OF 1934.
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FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: N/A
FORM 13F INFORMATION TABLE ENTRY TOTAL: 112
FORM 13F FINFORMATION TABLE VALUE TOTAL: 2691016
LIST OF OTHER INCLUDED MANAGERS: N/A
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FORM 13F INFORMATION TABLE
VALUE SHARES SH/
NAME OF ISSUER CLASS CUSIP# (x 1000) PRN AMT PRN
AMERICAN TEL & TEL COM 00195710 37512 470000 SH
AT&T CORP LIBERTY COM 00195720 13148 250000 SH
ABBOTT LABORATORIE COM 00282410 29960 640000 SH
AIR PRODUCTS & CHE COM 00915810 19865 580000 SH
AIRTOUCH COMMUNICA COM 00949T10 29471 305000 SH
ALCOA, INC COM 01381710 19770 480000 SH
ALLIED SIGNAL COM 01951210 4919 100000 SH
AMERICA ON LINE COM 02364J10 29400 200000 SH
AMERICAN EXPRESS COM 02581610 29438 250000 SH
AMERICAN HOME PROD COM 02660910 53179 815000 SH
AMERICAN INTL GROU COM 02687410 51567 427500 SH
AMGEN COM 03116210 14975 200000 SH
AMP INC. COM 03189710 9333 174450 SH
ASSOCIATES FIRST C COM 04600810 20254 450084 SH
ATLANTIC RICHFIELD COM 04882510 10969 150000 SH
AUTOMATIC DATA PRO COM 05301510 8275 200000 SH
BAXTER INTERNATION COM 07181310 13200 200000 SH
BELL ATLANTIC COM 07785310 25878 500672 SH
BELLSOUTH CORP COM 07986010 8013 200000 SH
BRISTOL-MYERS SQUIB COM 11012210 57713 900000 SH
BURLINGTON RESOURC COM 12201410 11582 290000 SH
CAMPBELL SOUP CO COM 13442910 5086 125000 SH
CATERPILLAR COM 14912310 9188 200000 SH
CENDANT CORP COM 15131310 2391 150000 SH
CHASE MANHATTAN BK COM 16161A10 8138 100000 SH
CHEVRON COM 16675110 11538 130000 SH
CISCO SYSTEMS COM 17275R10 45195 412500 SH
CITIGROUP, INC COM 17296710 94216 1475000 SH
COCA COLA COM 19121610 9206 150000 SH
COLGATE PALMOLIVE COM 19416210 19320 210000 SH
COLUMBIA/HCA COM 19767710 7575 400000 SH
COMPAQ COMPUTERS COM 20449310 22181 700000 SH
COMPUTER SCIENCES COM 20536310 17660 320000 SH
DQE COM 23329J10 11513 300000 SH
DAYTON HUDSON COM 23975310 3331 50000 SH
DILLARDS INC CL A COM 25406710 7613 300000 SH
DISNEY (WALT) CO COM 25468710 9960 320000 SH
DUPONT (EI) DE NEM COM 26353410 27580 475000 SH
EASTMAN KODAK COM 27746110 20759 325000 SH
EMERSON ELECTRIC COM 29101110 10588 200000 SH
EXXON COM 30229010 40221 570000 SH
FED NAT'L MTG ASSOC COM 31358610 36010 520000 SH
FIRST DATA COM 31996310 28215 660000 SH
FIRST UNION CORP COM 33735810 18169 340000 SH
FORD MOTOR CO COM 34537010 28344 500000 SH
FOSTER WHEELER COM 35024410 4365 360000 SH
GANNETT COM 36473010 32130 510000 SH
GAP COM 36476010 7573 112500 SH
GENERAL ELECTRIC COM 36960410 137175 1240000 SH
GENERAL MOTORS COM 37044210 18270 210000 SH
GILLETTE COM 37576610 37446 630000 SH
GULF CANADA RESOUR COM 40218L30 726 270000 SH
HALLIBURTON CO COM 40621610 16940 440000 SH
HEINZ COM 42307410 11844 250000 SH
HEWLETT PACKARD COM 42823610 27125 400000 SH
HOME DEPOT COM 43707610 41708 670000 SH
HONEYWELL COM 43850610 22744 300000 SH
HUMANA COM 44485910 2588 150000 SH
IMS HEALTH, INC COM 44993410 23850 720000 SH
INTEL CORP COM 45814010 36257 305000 SH
INTL BUSINESS MACH COM 45920010 74445 420000 SH
INTL PAPER COM 46014610 17719 420000 SH
JOHNSON & JOHNSON COM 47816010 28050 300000 SH
KIMBERLY CLARK COM 49436810 35953 750000 SH
LUCENT TECH COM 54946310 31001 287046 SH
MCI WORLDCOM INC COM 55268B10 46053 520000 SH
MARSH & MCLENNAN COM 57174810 24503 330000 SH
MAY DEPARTMENT STO COM 57777810 23475 600000 SH
MCDONALD'S COM 58013510 47125 1040000 SH
MERRILL LYNCH COM 59018810 13275 150000 SH
MICROSOFT COM 59491810 129060 1440000 SH
MINN MINING & MANUFA COM 60405910 12735 180000 SH
MOBIL COM 60705910 10560 120000 SH
MORTON INTL COM 61933510 14700 400000 SH
MOTOROLA COM 62007610 12453 170000 SH
NABISCO HOLDINGS COM 62952610 6234 150000 SH
NORTHROP COM 66680710 5389 90000 SH
OFFICE DEPOT COM 67622010 6364 170000 SH
PACIFIC CENTURY FIN COM 69405810 13151 630000 SH
PENNEY (J.C.) COM 70816010 6075 150000 SH
PEOPLESOFT COM 71271310 1828 125000 SH
PEPSICO COM 71344810 15675 400000 SH
PHARMACIA & UPJOHN COM 71694110 31188 500000 SH
PFIZER COM 71708110 55500 400000 SH
PHILLIP MORRIS COM 71815410 14075 400000 SH
PITNEY-BOWES COM 72447910 33150 520000 SH
PROCTOR & GAMBLE COM 74271810 46031 470000 SH
ROYAL DUTCH PETROL COM 78025780 28080 540000 SH
SBC COMMUNICATIONS COM 78387G10 37470 794064 SH
SAFEWAY INC. COM 78651420 2566 50000 SH
SCHLUMBERGER COM 80685710 31899 530000 SH
SPRINT COM 85206110 27475 280000 SH
SPRINT PCS COM 85206150 6204 140000 SH
TELEFONICA DE ESPA ADR 87938220 21322 166908 SH
TEMPLE INLAND COM 87986810 12550 200000 SH
TEXACO COM 88169410 8513 150000 SH
THOMAS & BETTS COM 88431510 9391 250000 SH
3 COM CORP COM 88553510 2331 100000 SH
TYCO INTERNATIONAL COM 90212410 3588 50000 SH
USX - MARATHON GRP COM 90290582 8250 300000 SH
US BANCORP, DEL COM 90297310 51434 1510000 SH
UNION PACIFIC COM 90781810 16031 300000 SH
UNION PACIFIC RESO COM 90783410 2615 220205 SH
UNITED TECHNOLOGIE COM 91301710 35214 260000 SH
UNOCAL COM 91528910 14750 400000 SH
WACHOVIA CORP COM 92977110 22327 275000 SH
WAL-MART COM 93114210 51625 560000 SH
WARNER LAMBERT COM 93448810 59784 902400 SH
WASHINGTON POST - COM 93964010 15645 30000 SH
WHIRLPOOL COM 96332010 8156 150000 SH
XEROX COM 98412110 11468 220000 SH
ZENECA GROUP - ADR ADR 98934D10 33414 710000 SH
PUT/ INVEST OTH/ VOTING AUTHORITY
CALL DSCRETN MGRS SOLE SHARED NONE
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