Exhibit 15.1

November 27, 2001

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549

Re:      The Goldman Sachs Group, Inc.
         Registration Statement on Form S-3


Commissioners:

We are aware that (i) our report dated October 9, 2001 on our review of the
condensed consolidated statement of financial condition of The Goldman Sachs
Group, Inc. and Subsidiaries (the "Company") as of August 31, 2001, the related
condensed consolidated statements of earnings for the three and nine months
ended August 31, 2001 and August 25, 2000, the condensed consolidated statements
of cash flows for the nine months ended August 31, 2001 and August 25, 2000, and
the condensed consolidated statements of comprehensive income for the three and
nine months ended August 31, 2001 and August 25, 2000, included in the Company's
Quarterly Report on Form 10-Q for the quarter ended August 31, 2001; (ii) our
report dated June 28, 2001 on our review of the condensed consolidated statement
of financial condition of the Company as of May 25, 2001, the related condensed
consolidated statements of earnings for the three and six months ended May 25,
2001 and May 26, 2000, the condensed consolidated statements of cash flows for
the six months ended May 25, 2001 and May 26, 2000, and the condensed
consolidated statements of comprehensive income for the three and six months
ended May 25, 2001 and May 26, 2000 included in the Company's Quarterly Report
on Form 10-Q for the quarter ended May 25, 2001; (iii) our report dated April 5,
2001 on our review of the condensed consolidated statement of financial
condition of the Company as of February 23, 2001 and the related condensed
consolidated statements of earnings, cash flows and comprehensive income for the
three months ended February 23, 2001 and February 25, 2000 included in the
Company's Quarterly Report on Form 10-Q for the quarter ended February 23, 2001;
and (iv) our report dated January 12, 2001 on our review of the consolidated
statements of financial condition of SLK LLC and Subsidiaries as of June 30,
2000 and June 30, 1999, and the related consolidated statements of income,
changes in members' equity and cash flows for each of the nine-month periods
then ended, which was included in the Company's Current Report on Form 8-K/A
dated January 16, 2001, are incorporated by reference into this Registration
Statement on Form S-3. Pursuant to Rule 436 (c) under the Securities Act of
1933, such reports should not be considered a part of such Registration
Statement, and are not reports prepared or certified by us within the meaning of
Sections 7 and 11 of that Act.

Very truly yours,



/s/ PricewaterhouseCoopers LLP