Ariba to Restate Fiscal Year 2001 Financial Statements.

Publication: PR Newswire

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COPYRIGHT 2002 PR Newswire Association LLC

Delays Filing of Fiscal Year 2002 Annual Report on Form 10-K

Ariba, Inc. announced today that it will restate its financial statements for the fiscal year ended September 30, 2001 and for the quarter ended March 31, 2001 as a result of an ongoing review by the company's audit committee. The review is focused on the accounting treatment relating to certain benefits provided to a limited number of employees of the company during fiscal years 2000 and 2001. In addition, Ariba has delayed the filing of its annual report on Form 10-K for the fiscal year ended September 30, 2002, which was due on Dec. 30, 2002, until this review is complete. In connection with this delay, Ariba is filing a Notification of Late Filing on Form 12b-25 with the Securities and Exchange Commission (SEC).

The audit committee's review has primarily focused on a $10 million payment, provided personally by Keith...

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