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COOPERS & LYBRAND CHAIRMAN COMMENTS ON SETTLEMENT

 NEW YORK, Nov. 23 ~PRNewswire~ -- Eugene M. Freedman, chairman of Coopers & Lybrand, made the following statement in response to today's announced settlement between the Office of Thrift Supervision and Ernst & Young:
 "While I am not familiar with the details of the settlement, it is a sad reflection on the present state of American litigation that the partners of a fine professional firm had to live under a threat of this nature. We support the partners of Ernst & Young and are pleased that the firm has put this horrendous burden behind it."
 -0- 11~23~92
 ~CONTACT: David L. Nestor of Coopers & Lybrand, 212-536-2965~


CO: Coopers & Lybrand; Ernst & Young ST: New York IN: FIN SU: ACC

AH-WB -- NY083 -- 0771 11~23~92 17:44 EST
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Publication:PR Newswire
Date:Nov 23, 1992
Words:124
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