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THE ARISTOTLE CORPORATION ANNOUNCES THAT KPMG PEAT MARWICK WILL NO LONGER SERVE AS INDEPENDENT ACCOUNTANT FOR THE COMPANY

 NEW HAVEN, Conn., July 7 /PRNewswire/ -- The Aristotle Corporation announced today that by mutual understanding KPMG Peat Marwick advised the company that it will no longer serve as independent accountant for the company.
 It is the intent of the company to change its fiscal year from December 31 to June 30. The board of directors has appointed Richard A. Eisner & Company independent accountants for the company effective with the fiscal year ending June 30, 1993.
 By letter dates July 1, 1993, the Federal Deposit Insurance Corporation (the "FDIC") notified The Office of Thrift Supervision, with a copy to the company, that the FDIC is making a claim for $3,981,000 against the company. This is the amount of a tax refund received by the company in 1992 with respect to Federal Income Taxes paid in 1988 and 1989. The FDIC believes that the refund is due to it as receiver for First Constitution Bank, which was a subsidiary of the company until Oct. 2, 1992 when it was seized by the FDIC.
 The company previously made reference to the possibility of such a claim by the FDIC in its annual report to shareholders and its Annual Report on Form 10-K for the year ended Dec. 31, 1992.
 -0- 7/7/93
 /CONTACT: John J. Crawford or George Brooks-Gonyer, both of The Aristotle Corporation, 203-867-4090/


CO: The Aristotle Corporation ST: Connecticut IN: FIN SU:

CM-DJ -- NE015 -- 9207 07/07/93 16:50 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
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