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To: pallmer who wrote (5000)	1/21/2003 5:34:48 PM
From: pallmer	Read Replies (1) \| Respond to of 29604

-- Unisys cuts pension fund rate of return assumption -- NEW YORK, Jan 21 (Reuters) - Computer services and hardware company Unisys Corp. <UIS.N> on Tuesday said that it cut the assumption for its long-term rate of return on its U.S. pension fund to 8.75 percent from a previous rate of 9.5 percent. Unisys Chief Financial Officer Janet Haugen said during a conference call that it made the cut because of the downward trend in global debt and equity markets. Haugen said that Unisys also lowered its discount rate for its U.S. pension plan to 6.75 percent from 7.5 percent. The company's expectation for $30 million in pension income in 2003 is lower than the $100 million that it had first forecast in December because the earlier number was based on preliminary information and the markets have since declined, Haugen said. ((Reporting by Caroline Humer; Editing by Bernard Orr; Reuters Messaging: caroline.humer.reuters.com@reuters.net; 646 223 6181; caroline.humer@reuters.com)) (C) Reuters 2003. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world. nN21179101 Symbols: US;UIS 21-Jan-2003 22:22:03 GMT Source RTRS - Reuters News