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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: paul e thomas who wrote (7610)	11/6/1997 3:29:00 PM
From: Risky Business	Read Replies (1) \| Respond to of 13949

Delays like this WILL lead to a panic:CAPE TOWN, Nov 6 (Reuters) - South Africa's Finance Minister Trevor Manuel on Thursday said converting the country's computer infrastructure to be millennium compliant could cost around 21 billion rand ($4.4 billion) In a written reply to a parliamentary question, Manuel said South Africa had not done any independent impact analysis, but said it had 10 percent of the computer infrastructure of Britain which estimates costs of 31 billion sterling. ''An estimate of the costs to the South African economy of some 21 billion rand would be reasonable,'' he said. Parliament's public accounts committee this week noted with concern the possible disruptive implications of non-compliance for public sector institutions. It asked the department of finance to determine the cost implications before the finalisation of next year's budget. ''The 1998-99 budget is the last opportunity government has to make financial provisions for the cost of all computer systems adjustments to deal with the advent of the year 2000,'' the committee said in a resolution. The ''millennium bug'' is a worldwide programming problem that causes computers to view the year 2000 as the year 1900. Machines must be reprogrammed to accept a four digit date field before 2000 to avoid computer chaos.