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Gold/Mining/Energy : XON - Exxon Corp.

XOM 114.19

+0.3%

Nov 4 3:59 PM EST

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To: denise v. who wrote (191)	11/16/1998 10:43:00 PM
From: Eric Winkler	Read Replies (1) of 242

They are taking Y2K quite seriously. Here is overview from current annual report: exxon.com YEAR 2000 ISSUE The Year 2000 Issue is the result of computer programs being written using two digits rather than four to define a specific year. Absent corrective actions, a computer program that has 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 causing disruptions to various activities and operations. The corporation initiated assessments in prior years to identify the work efforts required to assure that systems supporting the business successfully operate beyond the turn of the century. Comprehensive plans for achieving Year 2000 compliance were finalized during 1997, and implementation work was underway at year-end. While plans are in place, significant work remains to be done. Most required systems modifications are expected to be completed in 1998. Also during 1998, attention will continue to be focused on compliance attainment efforts of vendors and others, including key system interfaces with customers and suppliers. Notwithstanding the substantive work efforts described above, the corporation could potentially experience disruptions to some aspects of its various activities and operations as a result of non-compliant systems utilized by unrelated third party governmental and business entities. Contingency plans are therefore under development in order to attempt to mitigate the extent of such potential disruption to business operations. The total cost to the corporation of achieving Year 2000 compliant systems is not expected to be material to Exxon's operations, financial condition or liquidity.

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