FOR IMMEDIATE RELEASE                                    2001-13


COMMISSION STAFF PROVIDES WRITTEN GUIDANCE ON THE APPLICATION  OF
REVISED RULES ON AUDITOR INDEPENDENCE

     Washington, D.C., January 17, 2001 -- The staff of the
Securities and Exchange Commission today published guidance
responding to questions the staff has received from registrants
and auditors on the application of the Commission's recently
revised rules on auditor independence, which become effective on
February 5, 2001.  The guidance, in the form of a Frequently Asked
Questions (FAQ) document, is available on the SEC's Internet site
at:  http://www.sec.gov/offices/account/audinfaq.htm.

     The guidance is informal in nature and does not necessarily
represent the views of the Commission.  As the staff receives
additional questions, it may add to or revise the guidance.
Questions and related correspondence regarding auditor
independence should be directed to Sam Burke or Esmeralda
Rodriguez, Assistant Chief Accountants in the Office of the Chief
Accountant, Mail Stop 1103, 450 Fifth Street, N.W., Washington,
D.C. 20549 (202-942-4400).  Questions regarding disclosure in
proxy statements should be directed to the Office of Chief
Counsel in the Division of Corporation Finance at 202-942-2900.
     
     
                             #  #  #