We discuss the "exhaustion" problem in the context of the periodic Anderson
model using iterated perturbation theory (IPT) within the dynamical mean-f
ield theory. WE find that, despite its limitations, IPT captures the exhaus
tion physics, which manifests itself as a dramatic, strongly energy-depende
nt, suppression of the effective hybridization of the self consistent Ander
son impurity problem. As a consequence, low-energy scales in the lattice ca
se are strongly suppressed compared to the "Kondo scale" in the single impu
rity picture. The IPT results are in qualitative agreement with recent Quan
tum Monte Carlo results for the same problem.