ARTHUR ANDERSEN TO LAUNCH WEB-BASED SERVICE FOR BUSINESS EXECUTIVES--KNOWLEDGESPACE^SM

Arthur Andersen Knowledge Enterprises recently announced the scheduled launch of KnowledgeSpace^SM, its new Internet business service. Available in November, by this time KnowledgeSpace should be sifting, sorting, and interpreting current news and relevant Arthur Andersen resources to help subscribers improve their business performance. Knowledge Enterprises expects to be giving KnowledgeSpace subscribers customized access to a bank of knowledge, helping them to develop fresh ideas, save time, save money, and learn. The service will scan a vast array of sources, but will deliver to subscribers only the information they want to see. The initial roll-out will include a broad-based service targeted to professionals in all industries and businesses. In addition, subsequent roll-outs will include more industry- and profession-specific services--the oil and gas industry, and internal audit and CFO professionals are first in line prior to year-end. KnowledgeSpace is designed to create specialized "communities" of subscribers who are involved in particular industries and who face similar issues. Community members will learn daily about "hot" issues and have the opportunity to participate in online conferences and discussions with respected peers and global thought leaders.

A representative of Knowledge Enterprises indicated the KnowledgeSpace is not the same as E&Y's "Ask Ernie," the Internet accessible answer person for Ernst & Young. The price tag for Ask Ernie is $6,000 per year, whereas the cost of KnowledgeSpace begins at $365 per user per year. It should be noted that KnowledgeSpace is access to a database and not an online connection to firm professionals as is the case with Ask Ernie.

Arthur Andersen Knowledge Enterprises is an operating unit of Arthur Andersen that is focused on electronic commerce and interactive media business opportunities. *