Apple Adopts New Auditors Policy

CUPERTINO, California—February 15, 2002—Apple® announced today that it has adopted a new auditor policy which bans its auditors from performing non-financial consulting, such as information technology consulting and internal audit services.

“Our board’s audit committee has always been vigilant in these matters, but why not go a step further and make it crystal clear to our shareholders,” said Steve Jobs, Apple’s CEO.

Apple will continue to use its auditors to perform financial consulting in such areas as audits of statutory filings of foreign subsidiaries, 401-K audits, SEC registrations, and tax compliance and planning.

The Audit and Finance Committee of Apple’s Board of Directors will continue its current practice of reviewing the non-audit services that Apple’s auditors are engaged to perform, to ensure that the work does not compromise the auditors’ independence in performing their audit services.

Apple, the Apple logo and Macintosh are either registered trademarks or trademarks of Apple.