WASHINGTON, D.C. — The following statement was issued by Charles A. James, Assistant Attorney General in charge of the Department's Antitrust Division upon confirming that the Department will no longer adhere to its clearance agreement with the Federal Trade Commission, which was announced on March 5, 2002:

"The Department stands by its view that the agreement was good public policy that was working to make antitrust enforcement more effective. In fact, since the agreement became effective, antitrust investigations were being commenced within a matter of days, and there were no clearance disputes between the agencies. However, in view of the opposition expressed by Senator Hollings, Chairman of the Commerce, Justice and State Appropriations Subcommittee, to the agreement and the prospect of budgetary consequences for the entire Justice Department if we stood by the agreement, the Department will no longer be adhering to the agreement."

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