Chapter 11 Filings Rise 11.08 Percent in 1999; Overall Bankruptcy Filings Down 8.5 Percent.

Business & Banking Editors

NEW YORK--(BUSINESS WIRE)--March 13, 2000

Dominic DiNapoli, North America leader for PricewaterhouseCoopers' Business Recovery Services practice, is available to comment on the recently released data by the Administrative Office of the U.S. Courts. The data indicates that while overall bankruptcy filings in 1999 fell 8.5 percent from 1998, Chapter 11 business filings rose 11.08 percent.

Among other topics, Mr. DiNapoli is available to comment on:

- What the rise in Chapter 11 filings means for business and whether the trend
will continue;

- The decrease of Chapter 7 and 13 filings;

- Steps troubled companies can take to protect themselves from bankruptcy; and

- Success factors for emerging successfully from Chapter 11 in the context of
the "New Economy."

Mr. DiNapoli leads the North America region of the world's largest business recovery group, specializing in advising and implementing strategic turnaround plans for underperforming companies, as well as directing bankruptcy and other formal insolvency procedures. Mr. DiNapoli has worked on some of the highest profile Chapter 11 filings, including Fruit of the Loom, Inc., Caldor, Montgomery Ward, Levitz Furniture Inc., Rockefeller Center Properties.

With a worldwide network of 7000 professionals, PricewaterhouseCoopers' Financial Advisory Services ("FAS") practice provides creative solutions and ideas that increase value to clients during critical periods and when they are making important decisions that define their future. The FAS business is organized along five product lines. The Business Recovery Services, Dispute Analysis & Investigations, and Corporate Value Consulting product lines are the largest in the world. Our Dispute Analysis & Investigations product line was ranked number one in the US by readers of Euromoney's International Commercial Litigation. The Project Finance & Privatization product line was rated "Advisor of the Year" by Project Finance International, citing the firm's "phenomenal success in securing mandates." The Mergers & Acquisitions product line ranked in the top 10 globally in number of deals completed, according to Securities Data Company.

Note to Editors: The name PricewaterhouseCoopers is one word, with upper case P, uppercase C and all other letters in lower case.

PricewaterhouseCoopers (www.pwcglobal.com) is the world's largest professional services organisation. Drawing on the knowledge and skills of more than 150,000 people in 150 countries, we help our clients solve complex business problems and measurably enhance their ability to build value, manage risk and improve performance in an Internet-enabled world.

PricewaterhouseCoopers refers to the member firms of the worldwide PricewaterhouseCoopers organisation.