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To: TokyoMex who wrote (6638)	11/28/1997 9:40:00 PM
From: Steve Rubakh	Respond to of 31646

Y2K Disclosure Filings Begin to Take Flight Manufacturers know what's material. In fact, manufacturers reference Year 2000 in their financial filings more than any other non-information technology sector. Attorney Cathleen Judge, a partner at the Philadelphia-based firm of Ballard Spahr Andrews & Ingersoll, reports that Y2K has popped up in the filings of manufacturers 54 times, compared to 47 times for banks, 33 for utilities, 23 for insurance companies, and 23 for other financial services firms. Last May, the Securities and Exchange Commission advised public companies that "Consideration should be given to whether either the costs of addressing the [Y2K] problem or the consequences of incomplete or untimely resolution of the problem represent a known material event or uncertainty that would affect future financial results, or cause reported financial information not to be necessarily indicative of future operating results or future financial condition. As such, appropriate disclosure should be made in "Management's Discussion and Analysis of Financial Condition and Results of Operations" (Item 303 of Regulation S-K and S-B) in the company's reports on Form 10-K (10-KSB) and 10-Q (10-QSB)." Judge reports that the number of first time Y2K filers has ballooned, from just one in 1995 to 60 in 1996 and 349 through September 4 of this year. The number of IT customers (as opposed to IT providers) filing has also skyrocketed, from just 20 last year to 283 this year.