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Pastimes : ARTHUR ANDERSON Client list -- Ignore unavailable to you. Want to Upgrade?

To: Patricia who wrote (12)	6/27/2002 12:51:11 PM
From: Patricia	Read Replies (1) \| Respond to of 66

CLAIBORNE LIZ INC (LIZ) LIZ CLAIBORNE LIZ INC DEF 14A, Official notification to shareholders of matters to be brought to a vote ("Proxy") 03/28/2002 Page 31 sec.gov Accounting firms have woven an increasingly complex web of business and financial relationships with their audit clients. The nature of the non-audit services that accounting firms provide to their audit clients has changed, and the revenues from these services have dramatically increased. The growth of non-audit revenues represents a trend that has been accelerating dramatically in the last several years, with non-audit fees for consulting or advisory services exceeding audit fees at many companies. Our Company is in the category of companies that pays its audit firm more for non-audit advisory services than it does for audit services. The Company's most recent proxy statement indicated that Arthur Anderson LLP billed $717,885 for audit services, while billing $1,584,398 for non-audit services rendered.

To: Patricia who wrote (12)	6/27/2002 2:02:36 PM
From: Patricia	Read Replies (1) \| Respond to of 66

FREDDIE MAC (FRE) Anderson fired Freddie Mac is the latest company to fire Andersen as its auditor. Yesterday, officials at the mortgage lender announced they had hired PricewaterhouseCoopers as the agency’s accountant for 2002. Andersen had served as Freddie Mac’s auditor since 1970. Freddie did say that Andersen will continue to provide consulting services, however. In a press release, Freddie Mac said, “There were no disagreements between Freddie Mac and Arthur Andersen regarding accounting matters.” cfo.com