- "The Two Towers", 2nd of the Lord of the Rings films is released. Makes US$62 opening weekend and $926 million total worldwide.
Fashion designer Calvin Klein announces he is selling his company to shirt-maker Phillips-Van Heusen for $430 million
- Governor of California Gray Davis announces the state faces a record budget deficit of $35 billion, roughly double the figure reported during his reelection campaign one month earlier
- Ray Hnatyshyn, Governor-General of Canada (b. 1934)
- Wayne Owens, former U.S. Congressman (D-Utah) (b. 1937)