FOR IMMEDIATE RELEASE:

CONTACT: Jesse Jacobs - 202-224-4524

Wednesday, June 26, 2002

Craig Davis - 202-224-7391



STATEMENT OF SENATOR PAUL S. SARBANES
CHAIRMAN OF THE SENATE BANKING, HOUSING,
AND URBAN AFFAIRS COMMITTEE

June 26, 2002

WorldCom and Legislative Needs

"The startling revelations about WorldCom underscore the necessity to restore trust and confidence in our markets, where over 60% of the American public now invests. It is imperative we move forward with strong accounting reform and investor protection legislation. I am pleased that Senate Majority Leader Daschle has said he plans to move the bi-partisan Banking Committee bill immediately when we return from our July 4 recess."



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