Washington (July 31, 2003) -- Long Island accounting firm Marcum & Kliegman said threats to its managing partner and a dispute about overdue invoices effectively ended its relationship with Phlo Corp., not attempts to coerce the company into paying excessive fees, as charged in a filing with the Securities and Exchange Commission.

Phlo Corp.'s recent 8-K filing charged the accounting firm, along with audit partner David C. Buzkin and managing partner Jeffrey Weiner, with trying to get Phlo to pay "disputed and excessive fees: by threatening to block the company's compliance with SEC reporting requirements."

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