-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NFt6uRUWCMcJ9PTjZ1/Gg3j8rQqAZ1nifwBNPq/ug4VtZwLd9RnOvbVLwPQpo4UK
 CytY+Y3k/pKoSAAJCkuYlg==

<SEC-DOCUMENT>0000950123-97-002057.txt : 19970311
<SEC-HEADER>0000950123-97-002057.hdr.sgml : 19970311
ACCESSION NUMBER:		0000950123-97-002057
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19970310
SROS:			NASD

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIEBERT FINANCIAL CORP
		CENTRAL INDEX KEY:			0000065596
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				111796714
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-18855
		FILM NUMBER:		97553819

	BUSINESS ADDRESS:	
		STREET 1:		885 THIRD AVENUE
		STREET 2:		SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2126442400

	MAIL ADDRESS:	
		STREET 1:		182 SMITH ST
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICHAELS J INC
		DATE OF NAME CHANGE:	19950221
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>SUPPLEMENT TO PROSPECTUS DATED JANUARY 23, 1997
<TEXT>

<PAGE>   1
                                              Filed Pursuant to Rule 424(b)(3)
                                              Registration No.  333-18855

                      SUPPLEMENT dated February 20, 1997
                     to PROSPECTUS dated January 23, 1997

                           SIEBERT FINANCIAL CORP.


     The Company has extended the expiration date of its offering to holders of
record of its Common Stock outstanding on Friday, January 17, 1997 that number
of shares of Common Stock which will permit such shareholder to round up to the
nearest 100 shares any holdings of an odd amount for $9.375 per share, free of
commissions and underwriting discounts, from 5 p.m., New York City time, on
Friday, February 21, 1997 to 5 p.m. New York City time, on Friday, March 21,
1997 (the "Extended Expiration Date").  SHAREHOLDERS ARE ENCOURAGED TO CONSIDER
CAREFULLY THE OFFER PRIOR TO THE EXTENDED EXPIRATION DATE.  After the Extended
Expiration Date, the offer will be null and void.  For further information
concerning the offer, see "Plan of Distribution" in the attached Prospectus.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
