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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST

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To: NickSE who wrote (24022)12/8/1998 7:40:00 PM
From: Ahda  Read Replies (1) of 116764
 
Tuesday December 8, 7:16 pm Eastern Time

U.S. raises estimate for fixing
millennium bug

WASHINGTON, Dec 8 (Reuters) - The Clinton administration
on Tuesday said ridding U.S. federal agency computers of the
dreaded millennium bug will cost $6.4 billion, up from a $5.4
billion estimate made three months ago.

So far, 61 percent of the government's most critical computer systems have been repaired or
replaced so they can process dates after Dec. 31, 1999, properly, up from 50 percent three months
ago.

The departments of Defense, Energy, State, Transportation, and Health and Human Services along
with the Agency for International Development continue to lag in their preparations, however. The
Education Department, which had been considered a significant laggard three months ago, is now
making adequate progress, the administration reported.

The administration's quarterly report said the increased cost estimate was expected and included in
the government's 1999 budget.

Because some older computer programs used two digits to represent years, they may fail to
recognize 2000 or confuse it with 1900, which experts say could result in computer failures.
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