NATIONAL FOOTBALL LEAGUE

December 14, 1999

NFL STATEMENT:

The NFL Finance Committee held a regularly scheduled meeting today to review several league business matters. One of issues discussed was the pending sale of the New York Jets. John Hess and Goldman Sachs Managing Director Eric Grubman were invited by Commissioner Tagliabue to give the committee a 45-minute progress report on the sale. Mr. Hess and Mr. Grubman reported that no selection had been made and that there was no timetable for a decision. The discussion centered on the steps the Hess Estate and Goldman Sachs have taken so far in the sale process.

After the Hess Estate makes a selection, the Finance Committee will review it and make a recommendation to the clubs. The sale of an NFL club must be approved by 24 of 31 clubs.