News Release

Statement of NASD Chairman and CEO Robert Glauber

"We commend Chairman Pitt for proposing new rules that will improve the reliability and integrity of financial statements and lead to greater investor confidence. These SEC rules, together with the action taken this week by the Senate Banking Committee under Chairman Sarbanes' leadership to report out an accounting regulation bill, greatly advance the process begun earlier this year with Chairman Oxley's bill passed by the House of Representatives. Each of these steps brings the accounting industry closer to real reform, which is critical to restoring public confidence in the markets."