VERBATUM Transcript from the Michael Jackson/Chandler settlement press conference as taped from satellite on 1-26-94, unedited.

Larry Feldman's statement-Attorney for Plaintiff:

"We wish to jointly announce a mutual resolution of this lawsuit. As you are aware the plaintiff has alleged certain acts of impropriety by Mr. Jackson and from the inception of those allegations Mr. Jackson has always maintained his innocence. However the emotional trauma and strain on the respective parties have caused both parties to reflect on the wisdom of continuing with the litigation. The plaintiff has agreed that the lawsuit should be resolved and it will be dismissed in the near future. Mr. Jackson continues to maintain his innocence and withdraws any previous allegations of extortion. This will allow the parties to get on with their lives in a more positive and productive manner. Much of the suffering these parties have been put through has been caused by the publicity surrounding this case. We jointly request that members of the press allow the parties to close this chapter in their lives with dignity so that the healing process may begin."

Johnnie Cockran's statement-Attorney for Defendant [Michael Jackson]:

"In the past ten days the rumors and speculation surrounding this case have reached a fever pitch and by-and-large have been false and outrageous. As Mr. Feldman has correctly indicated Michael Jackson has maintained his innocence from the beginning of this matter and now, as this matter will soon be concluded, he still maintains that innocence. The resolution of this case is in no way an admission of guilt by Michael Jackson. In short, he is an innocent man who does not intend to have his career and his life destroyed by rumor and innuendo. Throughout this ordeal he has been subjected to an unprecedented media feeding frenzy; especially by the tabloid press. The tabloid press has shown an insatiable thirst for anything negative and have paid huge sums of money to people who have little or no information and who barely knew Michael Jackson. So today the time has come for Michael Jackson to move on to new business, to get on with his life, to start the healing process and to move his career forward to even greater heights. This he intends to do. At the appropriate time Michael Jackson will speak out publicly as to the agony, torture, and pain he has had to suffer during the past six months. Thank you very much. "