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To: GC who wrote (640)	6/22/1999 10:14:00 AM
From: GC	Read Replies (1) \| Respond to of 767

look what INTEL has to say today Tuesday June 22, 9:42 am Eastern Time Intel tips UK as Europe's e-commerce hub LONDON, June 22 (Reuters) - U.S. computer chip giant Intel Corp. said on Tuesday Britain could become Europe's hub for the exploding electronic commerce market by capitalising on its advanced technology and status as a major financial centre. ''The UK has a unique opportunity to profit and show leadership in the Internet economy,'' Intel Chief Executive Craig Barrett told a CEO conference on technology. ''By taking advantage of its high international bandwidth capability, the UK can act as the European gateway for international transactions and exchanges over the Internet.'' Barrett cited industry estimates showing the e-commerce market for home shopping, banking and other services in western Europe will balloon to $223 billion in 2002 from $19 billion this year. Meanwhile, the U.S. e-commerce market will rise to $843 billion -- making up an estimated 10 percent of the country's gross domestic product -- compared to $109 billion in 1999. ''I think all of the forecasts are underestimates. (E-commerce) is going to be a bigger phenomenon than any of us estimate,'' Barrett said during his speech opening the Wall Street Journal Europe's CEO Summit on converging technologies. Barrett was due to meet with British finance minister Gordon Brown and other government officials later on Tuesday to discuss how Britain can boost its competitiveness in the tech sector. Intel, the world's biggest computer chip maker, expects its e-commerce related revenues to hit $15 billion this year, representing about half of sales, from nil last July, when it made its first e-commerce sale. Barrett said Intel expects 90 percent of its revenues to come from e-commerce transactions in the next two to three years. ''Essentially all of our businesses will be conducted in this fashion,'' he said. More Quotes and News: Intel Corp (Nasdaq:INTC - news) Related News Categories: US Market News Help Copyright © 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?