The Big Five

 
March 18, 2002
Geneva

KPMG and Andersen

KPMG and Andersen confirmed today that they are in discussions surrounding
opportunities for the two organisations, outside the US, to come together.

Mike Rake, Chairman of KPMG EMA Region said: "We are continuing to work
together to consider possible ways in which to combine our operations
throughout the major markets of Europe, Africa, Middle East, Canada, Asia
and Latin America. Such a combination would be complementary in terms of
geographic coverage and industry expertise."

"Any such combination would create a global network that can continue to
provide outstanding service in every part of the world and represents an
outstanding opportunity for our partners and people," said Aldo Cardoso,
Chairman of the Board of Andersen Worldwide.

The completion of a transaction is subject to further negotiation and in
due course execution of definitive agreements. Any such transaction will be
implemented through combinations of relevant member firms around the world,
each of which will require appropriate approvals from local partners and
regulatory authorities.