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Technology Stocks : NCR Corporation: An AT&T Spinoff -- Ignore unavailable to you. Want to Upgrade?

To: judge who wrote (269)	8/10/1998 11:18:00 PM
From: David C. Burns	Read Replies (1) \| Respond to of 379

Saw no news which would explain the hit to NCR today, agree it is a screaming buy. Although not in the most exciting part of their business, I thought this press release today was quite interesting. NCR DELIVERS Y2K CONTINGENCY PLAN DESIGNED TO MEET FFIEC REQUIREMENTS Community Banks Now Have Back-up Account Processing Option DAYTON, Ohio -- NCR Corporation recently announced a Year 2000 contingency plan that will provide participating community banks with a secured option for Year 2000 Qualified NCR account processing services should the bank's current account processing system fail to meet Y2K compliance standards. Under the plan, community banks pay a one-time fee that guarantees the availability of and timely conversion to NCR's account processing solution in a service bureau environment. Banks that purchase the contingency option are not required to convert to NCR account processing, but will be able to register for conversion at any time within six months of purchase prior to June 1, 1999. As part of this plan, NCR will complete all conversions by mid-December 1999. "Community banks have been studying Year 2000 compliance issues and how they relate to core systems for several years," said Jim Stewart, marketing director for NCR. "Even though many vendors are promising compliance by the required date, banks are searching for a back-up plan, should their current system not meet specifications. NCR's contingency plan gives them just that -- a cost-effective option should their existing system fail to comply." Although the initial conversion will be serviced through an NCR service bureau, participating banks will be given the option to migrate to an in-house solution after 12 months. "This approach relieves financial institutions of core processing issues related to the Year 2000," said Edwin Bowman, sales director for NCR. "At the same time, it provides them with choices that protect their initial investment, as well as a plan that compliments their IT strategies." "Beyond the security this contingency plan provides, community banks can rest assured in the knowledge that they are contracting with a global leader in the financial market that has nearly four decades of account processing experience," added Stewart. Banks interested in learning more about the Y2K contingency plan should call their NCR account representative or call Edwin Bowman, National Sales Director, at (937) 445-2600 for more information and details on registering for the program.