Washington (June 28, 2002) -- PricewaterhouseCoopers has agreed to make a "substantial payment" to the government to resolve a probe into questionable tax shelters that dates back to 1995.The agreement concerns issues relating to tax shelter registration and list maintenance under the Internal Revenue Code. An organizer or seller of a tax shelter is required to register the shelter with the IRS and maintain a list identifying each person who is sold an interest in the tax shelter.

Without admitting or denying wrongdoing or legal liability, PwC agreed to pay a hefty amount to the IRS – the extent of which was not disclosed -- to resolve issues in connection with advice rendered to clients dating back to 1995.

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