STATEMENT OF THE ATTORNEY GENERAL REGARDING WORLDCOM BANKRUPTCY FILING

"This morning, the Justice Department, through the United States Trustee in New York, took decisive action by requesting an independent Examiner in the WorldCom bankruptcy case on the first day of the bankruptcy proceedings. This action will provide transparency to the process and enhance accountability. In turn, this should increase public confidence in the conduct of the case and help preserve value and protect the creditors and shareholders, including small creditors and those whose pension funds are invested in WorldCom. The Justice Department strongly urged this independent Examiner presence as essential to providing public confidence in the handling of the largest bankruptcy case in history."

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02-415