UE FOR NCR

ST. LOUIS, Mo. Union Electric Co. (NYSE:UEP) will replace NCR Corp. on Standard & Poor's S&P-500 Stock Index when the merger between NCR and American Telephone & Telegraph Co. becomes effective, S&P officials announced this week.

Opening for Union Electric's common stock was delayed until approximately 10 a.m. (EST) Wednesday as purchase orders swamped the specialist on the New York Stock Exchange. Entry on the S&P 500 is generally considered positive for a stock, since companies on the index are automatically purchased by stock index funds.

After this Wednesday's delay, Union Electric common stock opened at 32 3/4.

UE, a St. Louis-based electric utility, earned $280 million in 1990 on revenues of $2 billion. The company's market capitalization totaled $3.3 billion at Wednesday's market close.