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NEWS RELEASE                                                 JMCG
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                                  Contact:  James K. Mitchell
                                            Chairman, President and
                                            Chief Executive Officer
                             Telephone:     (619) 450-0055

       JMC GROUP, INC. ANNOUNCES MOVE TO SMALL CAP MARKET

SAN DIEGO, CA - (March 17, 1999) - JMC Group, Inc. (NASDAQ: JMCG;
PCX:JMC) today announced that it has received notice from Nasdaq
that the Company's Common Stock will be listed on the Nasdaq
SmallCap Market via an exception from the minimum bid price
requirements effective March 18, 1999 at the opening of the
market.  For the duration of the exception, the Company's Nasdaq
symbol will be JMCGC.  As previously reported, the Company had
been informed by Nasdaq that it may no longer meet continued
listing requirements on the Nasdaq National Market System
("NMS").  The Company requested and was granted a hearing which
was held on February 19, 1999.

While the Company failed to meet the continued listing
requirement for the NMS as of December 16, 1998, the Company was
granted a temporary exception from this standard subject to JMCG
meeting certain conditions.  On or before May 7, 1999, the
Company must demonstrate a closing bid price of at least $1.00
per share; thereafter, the Company's closing bid price must meet
or exceed $1.00 per share for a minimum of ten consecutive
trading days.  The exception will expire on May 21, 1999.  In the
event the Company is deemed to have met the terms of the
exception, it shall continue to be listed on the Nasdaq SmallCap
Market.  If the Company remains in compliance throughout the
expiration date of the exception, the symbol will be returned to
JMCG.

The Company also previously announced that it would seek
stockholder approval at the May 3, 1999 Annual Meeting of
stockholders of a one-for-two reverse split of its Common Stock
to effectively reduce the number of shares issued and outstanding
to approximately 3,083,225 shares.  The Company believes that
this action may result in an increase of the bid price for the
Company's Common Stock to over $1.00, which is Nasdaq's stated
minimum bid price for shares on the SCM.  However, there can be
no assurance that the bid price for the Common Stock will be
increased to over $1.00 or that the Company will otherwise be
able to maintain listing on the SCM.  If delisted from the Nasdaq
SmallCap Market, the Company's Common Stock would be traded on
the Over-the-Counter Bulletin Board.

JMC G R O U P , I N C .
9710 SCRANTON ROAD SUITE 100
SAN DIEGO, CA 92121                              FOR ADDITIONAL INFORMATION
TELEPHONE (619)450-0055 FACSIMILE (619)450-9102         CALL 1-800-770-JMCG