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Non-Tech : PEP, pepsi sales force ideas.
PEP 139.91+0.4%Jan 9 9:30 AM EST
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To: Thomas Lemke who wrote ()10/20/1998 4:36:00 PM
From: NewsTrader   of 13
 
(NewsTraders) -- PepsiCo Inc. (PEP) expects to spend up to $130 million on remedying the pending Year 2000 issue, according to the company's Form 10-Q.

The food and beverage concern said it has spent about $28 million, or 22 percent of the total estimate, to date. PepsiCo noted that about 72 percent of the total budget represents costs to modify existing systems.

The company said remediation and testing activities are well underway with 40 percent of its systems already compliant. This percentage is expected by PepsiCo to increase to 75 percent by year-end, to 90 percent and 98 percent by the end of the first and second quarters of 1999, respectively, and be fully compliant by the fourth quarter of 1999.

PepsiCo said the $130 million estimate assumes that the company will not incur significant Year 2000 related costs on behalf of its suppliers, customers, franchisees or other third parties.
Contingency plans for Year 2000-related interruptions are being developed, and are expected to be completed by the end of the second quarter in 1999, the filing states.

As reported, the Year 2000 issue is the result of computer programs using two digits rather than four to define the applicable year. Computer programs that have date-sensitive software may recognize a date using "00" as the year 1900 rather than the year 2000. This could result in system failures or miscalculations leading to disruptions in a company's operations.
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