Apr 15 2003

CHAIRMAN SHELBY COMMENTS ON SELECTION OF WILLIAM MCDONOUGH TO HEAD PCAOB

Senator Richard C. Shelby today commented on the selection of William J. McDonough to serve as Chairman of the Public Company Accounting Oversight Board:

“With a long career in both the public and private sectors, William McDonough will bring a great deal of knowledge and experience to the PCAOB.

He should provide the solid leadership that is necessary to a Board that will play such a critical role in restoring investor confidence to our capital markets.”