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U.S. Securities and Exchange Commission

Pitt Statement on Andersen Indictment

For Immediate Release

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."



Modified: 03/14/2002