To: John Mansfield who wrote (2465 ) 8/25/1998 6:17:00 PM From: John Mansfield Read Replies (1) | Respond to of 9818
' Nunn Heads Task Force to Assess Threat Contact: Mark Schoeff Jr. 202-775-3242; Brent Newton 775-3247 WASHINGTON, July 22, 1998 - Former Senator Sam Nunn will head a CSIS task force designed to raise public awareness and develop policy recommendations regarding the Year 2000 computer crisis (Y2K), which threatens to disrupt daily life as we approach January 1, 2000. Nunn will serve as chair of the CSIS Y2K Risk Assessment Task Force. The group will convene senior governmental officials and international business leaders to determine how the "millennium bug" will affect government, business, consumers, financial markets, and the global trading system. The task force also will coordinate ongoing CSIS Y2K program efforts in the areas of international communications, information security, and international finance. The year 2000 problem stems from the inability of most software and microprocessors to recognize the date 2000. Unless defused, this global bomb could cause widespread computer malfunctions-possibly shutting down everything from medical devices, telephone networks, and air traffic control systems to global electronic financial transactions-as clocks strike midnight on January 1, 2000. Some speculate that Y2K could spawn a global recession. The task force has scheduled high-level risk assessment meetings in early October to analyze the global dimensions of the Y2K crisis. These meetings will be chaired by Senator Nunn and will include members of Congress, administration officials, agency heads, and senior executives from utilities, telecommunications, transportation, and financial services industries. These meetings will be followed by a series of events focusing on a broad spectrum of issues ranging from threats to national security to the potential explosion of litigation resulting from Y2K failures. The task force also will publish Y2K Update on the CSIS web site. ...csis.org