HOLTZ RUBENSTEIN PARTNER DISCUSSES CORPORATE RESPONSIBILITY

November 15, 2002 - - Enron. WordCom. These and other corporate fraud cases this year cast new light on the concept of corporate responsibility. In July 2002, the president signed the Sarbanes-Oxley Act, a piece of legislation that attempts to restore public confidence in the securities market.

The Act covers corporate governance, disclosure, reporting and accounting requirements and penalties. It also imposes new duties on officers, directors, accountants, and attorneys of public companies.

Holtz Rubenstein Audit Partner Andrew J. Vuono explained the nuances of the new rules and regulations at a seminar for the Suffolk County Bar Association. "This Act will require many companies to adopt significant changes to their internal controls and the roles played by their audit committees and senior management in the financial reporting process," warned Mr. Vuono. "Its impact on smaller public companies is yet to be determined, but it may force these companies to reconsider their desire to remain in the public markets."

For questions about the Act, contact Mr. Vuono at (631) 752-7400 x-245.

Holtz Rubenstein & Co., LLP is one of the largest Long Island based accounting firms and a leader in the community. It provides a wide variety of accounting, tax and business advisory services to clients throughout the New York metropolitan area. Through its affiliation with DFK International, it also provides services to clients throughout the United States, Canada, Europe, Asia, Mexico and other parts of the world.

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Holtz Rubenstein Reminick LLP, with offices on Long Island and in New York City, is one of the largest regional accounting firms and a leader in the community. It provides a wide variety of accounting, tax and business advisory services to clients throughout the New York metropolitan area. Through its affiliation with DFK International, it also provides services to clients throughout the United States, Canada, Europe, Asia, Mexico and other parts of the world.

For further information on this release, please contact:

Flo Federman
Director of Marketing Communications
631.752.7400 Ext. 212
ffederman@hrrllp.com