Updated information is provided on teacher salaries for 1995-96 and estimated increases for the 1996-97 school year in the 15 states belonging to the Southern Regional Education Board (SREB). Pay raises for 1996-97 are estimated as ranging from 1.75 percent in Virginia to 6 percent in Georgia. Especially noted are South Carolina's continuing success in increasing teacher salaries and the financial encouragement offered by some states to teachers seeking national certification. Establishment of salary goals by Georgia, North Carolina, and Louisiana are also reported with potential cost figures. The positive effects of salary goals set earlier by Kentucky, West Virginia, Oklahoma, and Arkansas are reported. The paper also notes that salary averages can mask wide variations and often reflect demographic trends as well as general pay increases. The relationship of cost-of-living to the value of teacher salaries is briefly discussed. Tables present data for each state giving estimated 1995-96 and 1996-97 average salaries and the national rankings of the SREB states adjusted and un-adjusted for cost-of-living. (DB)