  We discuss the "exhaustion" problem in the context of the Periodic Anderson
Model using Iterated Perturbation Theory(IPT) within the Dynamical Mean Field
Theory. We find that, despite its limitations, IPT captures the exhaustion
physics, which manifests itself as a dramatic, strongly energy dependent
suppression of the effective Anderson impurity problem. As a consequence, low
energy scales in the lattice case are strongly suppressed compared to the
"Kondo scale" in the single-impurity picture. The IPT results are in
qualitative agreement with recent Quantum Monte Carlo results for the same
problem.
