SECURITIES AND EXCHANGE COMMISSION                 
   Washington, DC 20549
                              
                   FORM 10-K AMENDMENT #1


Annual report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of  1934

For the fiscal year ended September 30, 1995      Commission
file number 0-25492

                IPC INFORMATION SYSTEMS, INC.
   (Exact Name of Registrant as Specified in Its Charter)
                              
              DELAWARE                           58-1636502
 (State or Other Jurisdiction of                  (I.R.S. Employer
  Incorporation or Organization)              Identification No.)
                                                     
        Wall Street Plaza                            
          88 Pine Street                             
        New York, New York                         10005
 (Address of Principal Executive                 Zip Code
             Offices)                                
                                                     
                              
                       (212) 825-9060
    (Registrant's Telephone Number, Including Area Code)
                              
Securities registered pursuant to Section 12 (b) of the Act:
                            None
                              
Securities registered pursuant to Section 12(g) of the Act:
                              
        Title of Class: Common Stock, $.01 Par Value
                              
Indicate by check mark whether the registrant: (1) has filed
all  reports required to be filed by Section 13 or 15(d)  of
the Securities Exchange Act of 1934 during the preceding  12
months  (or for such shorter period that the registrant  was
required to file such reports), and (2) has been subject  to
such  filing requirements for the past 90 days.   Yes      X
No ____

Indicate  by  check mark if disclosure of delinquent  filers
pursuant  to  Item  405 of Regulation S-K is  not  contained
herein  and  will  not be contained,  to  the  best  of  the
registrant's  knowledge, in definitive proxy or  information
statements  incorporated by reference in Part  III  of  this
Form 10-K or any amendment to this Form 10-K.___

The  aggregate market value of the voting stock held by non-
affiliates  of the Registrant as of November 30,  1995,  was
approximately $47.1 million based upon the last  sale  price
reported for such date on the Nasdaq National Market.

The number of shares of the Registrant's Common Stock
outstanding as of  November 30, 1995 was 10,521,555.

             DOCUMENTS INCORPORATED BY REFERENCE

Portions of the definitive Proxy Statement for the Annual
Meeting of Stockholders of IPC Information Systems, Inc.
(the "Proxy Statement"), scheduled to be held on February
14, 1996, are incorporated by reference in Part III of this
Report on Form 10-K.

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     (a)(3)    Exhibits

Exhibit No.    Exhibit Title
<S>            <C>
*3.2      Amended and Restated Bylaws of Registrant

*10.2.1        Letter Agreement, dated October 17, 1995, by
          and between the Registrant and Richard P.
          Kleinknecht amending the Employment
          Agreement, dated May 9, 1994, by and between
          the Registrant and Richard P. Kleinknecht.

*10.3.1        Letter Agreement, dated October 17, 1995, by
          and between the Registrant and Peter J.
          Kleinknecht amending the Employment
          Agreement, dated May 9, 1994, by and between
          the Registrant and Peter J. Kleinknecht.

*10.4.1        Letter Agreement, dated October 17, 1995, by
          and between the Registrant and Jeffrey M. Gill
          amending the Employment Agreement dated
         August 29, 1994, by and between the Registrant
          and Jeffrey M. Gill.

*10.14.1  Employer Agreement, dated as of
          October 17, 1995, by and between the Registrant
          and Steven Terrell Clontz.

  21.2         Subsidiaries of the Registrant

  27            Financial Data Schedule

* Filed as an exhibit to the Registrant's Report on Form 8-K,
filed November 30, 1995,  and incorporated
herein by reference.

          (b)  Reports on Form 8-K

          No Reports on Form 8-K were filed with the Securities
          and Exchange Commission
          during the fourth quarter of the fiscal year covered
          by this report.
                               
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                         SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of
the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                              IPC INFORMATION SYSTEMS, INC.



Date: January 31, 1995             By:/s/ RICHARD P. KLEINKNECHT
                                           Richard P. Kleinknecht
                                                Chairman

     Pursuant to the requirements of the Securities Exchange
Act of 1934, this report has been signed below by the
following persons on behalf of the Registrant and in the
capacities and on the dates indicated.


          Signature                  Title         Date
                                                   

 /s/ RICHARD P. KLEINKNECHT   Chairman and         January 31,
                                 Director             1995
   Richard P. Kleinknecht                          
                              
  /s/ PETER J. KLEINKNECHT    Vice Chairman and    January 31,
                                  Director             1995
    Peter J. Kleinknecht                           
                              
      /s/ TERRY CLONTZ        Chief Executive      January 31,
                                  Officer,             1995
        Terry Clontz              President and        
                                   Director
                          (Principal Executive Officer)
                                                   
/s/ JEFFREY M. GILL      Chief Operating      January 31,
                             Officer              1995
    Jeffrey M. Gill                             
                              
/s/ GREGORY RIEDEL       Chief Financial      January 31,
                            Officer              1995
    Gregory Riedel    (Principal Financial Officer)
                      (Principal  Accounting Officer)
                              
   /s/ THEODORE J. JOHNSON    Director      January 31,
                                                1995
     Theodore J. Johnson                           
                              
   /s/ ROBERT J. MCINERNEY    Director     January 31,
                                              1995
     Robert J. McInerney                           
                              
     /s/ PETER M. STEIN       Director   January 31,
                                            1995
       Peter M. Stein         
                              
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