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To: 10K a day who wrote (139487)2/19/2002 10:07:58 AM
From: Glenn D. Rudolph  Respond to of 164684
 
"PITTSBURGH -- PNC Financial Services Group Inc. on Tuesday said a accounting error related to the sale of its residential-mortgage banking unit reduced 2001 earnings by $35 million.

The announcement marks the second time in a little more than two weeks that PNC has restated full-year profits.

PNC said the latest reduction came from discontinued operations, where profit now totals $5 million. The $35 million cut reduced consolidated net income to $377 million from $412 million, a spokesman said."

online.wsj.com