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Statement On The Absence Of Enron Stock

Mr. Rumsfeld does not own any shares in Enron.

Contrary to the Associated Press, Washington Times, USA Today and New York Times stories, to the best of his knowledge he has never owned shares in Enron, and definitely has not since he divested most of his holdings on reentering government in January 2001. Prior to joining the government, Mr. Rumsfeld had funds managed by professional money managers, including index funds, so it is conceivable that one of those funds may have owned shares in Enron, but not to his knowledge. At present, he has a blind trust and is not aware of the investments in the trust.

Mr. Rumsfeld's accountant advises that for a period of time, until immediately after Mr. Rumsfeld was sworn in as Secretary of Defense, Mrs. Rumsfeld had an investment with an organization that designed a fund to replicate the S&P 500 index, and that for a period Enron was a component of that fund, along with several hundred other securities. As an investor in that fund, Mrs. Rumsfeld owned 100 shares of Enron stock before Mr. Rumsfeld came into the government.

On February 13, 2001, during the period when Mr. and Mrs. Rumsfeld were divesting their holdings following the Secretary's confirmation, Mrs. Rumsfeld's shares in the fund, and therefore her 100 shares of Enron, were sold.

The Associated Press, Washington Times and the New York Times stories all cited the Center for Public Integrity as a source. USA Today cited its own research. All were inaccurate. To the best of our knowledge, none of the news organizations contacted Mr. or Mrs. Rumsfeld to determine the accuracy of their stories.

Ends


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