FOR IMMEDIATE RELEASE                        2002-36


            PITT STATEMENT ON ANDERSEN INDICTMENT

     Washington, D.C., March 14, 2002 - Securities and
Exchange Commission Chairman Harvey L. Pitt issued the
following statement regarding the announcement by the
Department of Justice that it had obtained an indictment
against the accounting firm Andersen LLP:

     “The Commission is closely monitoring these
developments, particularly with respect to Andersen’s public
company clients who are in the process of having their
financial statements audited.  We have an obligation to
protect investors, and, as we are announcing today, we have
taken necessary actions to assure a continuing and orderly
flow of information to investors and the U.S. capital
markets. Any effects of the indictment are expected to be
temporary.”

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