MLU Acquires Exclusive Rights to Year 2000 Software
This one's interesting too - the basis for the MLU mention in the Investor's Digest article?
FOR FURTHER INFORMATION PLEASE CONTACT:
Millennium Communications Inc.
Investor Relations
(416) 203-2001
or
Millennium Communications Inc.
Donna-Marie Anton
VP Marketing
(416) 203-2001
The Alberta Stock Exchange has neither approved nor disapproved of
the information contained herein.
Retransmission
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: MILLENNIUM COMMUNICATIONS INC.
ASE SYMBOL: MLU
MARCH 11, 1997
Retransmission: Millennium Communications Inc. Acquires
Exclusive Rights to Year 2000 Software!
TORONTO, ONTARIO--MILLENNIUM COMMUNICATIONS INC. ("Millennium")
Millennium is pleased to announce that it has acquired exclusive
rights to the Canadian marketplace for the "Year 2000 Problem"
software, developed by Century Technology Services, Inc.
The Year 2000 problem will affect nearly all software that tracks
date sensitive financial information. Some of the industries
affected will be banking, insurance, government, and accounting.
This software, known as CTSI 2000, performs the Year 2000
conversion for mainframe, midrange and other systems, regardless
of computer language, in less than half the time of other
conversion services. The process is less disruptive to the
current operating environment, requires a smaller programming
commitment, and significantly reduces overall conversion and
testing costs.
The Year 2000 problem occurs when the computer attempts to process
"00" in the years field. The systems thinks the "00" is 1900, not
2000, and malfunctions. This problem creates erroneous
calculations and computer crashes. CTSI 2000 converts the
computer systems so that they can process dates correctly into the
next century. Consideration for the license is $500,000 Cdn plus
a royalty of $0.07 per line of code. The average mainframe
computer has twelve million lines of code contained in 8000
programs.
According to the Gartner Group of Stamford, Connecticut the Year
2000 conversion market is estimated to be worth between $400 and
$600 billion USD over the next three years.
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