Schaumburg, Ill. (Aug. 13, 2004) -- Motorola Inc. may owe the Internal Revenue Service additional income tax of $500 million related to transfer pricing matters dating back to 1996, the company disclosed this week.

In its quarterly report filed Wednesday with the Securities and Exchange Commission, the Schaumburg, Ill.-based company said that it received notices in June of this year from the IRS following the agency's field examination of Motorola's tax returns for 1996 through 2000. In connection with the examination, the company said that the IRS proposed certain adjustments primarily related to transfer pricing.

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