FROM THE OFFICE OF PUBLIC AFFAIRS

Today the Treasury Department and the Internal Revenue Service issued Notice 2002-18, announcing their intention to issue regulations that will prevent a group of corporations filing a consolidated return from obtaining more than one tax benefit from a single economic loss. The regulations will apply to dispositions occurring on or after March 7, 2002.

"Treasury and the IRS are preparing regulations addressing these loss duplication transactions, and will issue this guidance in the near future," stated Mark Weinberger, Assistant Secretary of the Treasury for Tax Policy.

The text of Notice 2002-18 is attached.