PCAOB Launches Web Site

Washington (May 14, 2003) -- With a brief apology for its late arrival, the Public Company Accounting Oversight Board announced the launch Tuesday of its official Web site, www.pcaobus.org.

The site offers detailed information about the board, which was set up last year as mandated by the Sarbanes-Oxley accounting industry reform act.

Site visitors can view the latest news releases concerning the board, read the entire Sarbanes-Oxley legislation, and keep updated on all of its rulemaking initiatives.

A non-PCAOB sanctioned site at www.pcaob.com, was put up months ago by CPA Karl Nagel of Karl Nagel & Co., which has developed a Public Company Accounting Oversight Group to help public companies faced with complying with the new record keeping and disclosure requirements of the Sarbanes-Oxley Act of 2002.

PCAOB spokeswoman Christi Harlan said the organization was not unhappy with the information Nagel has put up on his site, but would like to own the pcaob.com domain name.

-- Tracey Miller-Segarra