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

To: bob who wrote (13761)	3/2/1999 2:36:00 PM
From: Cosmo Kramer	Respond to of 13949

Tuesday March 2, 1:42 pm Eastern Time Company Press Release Syntel Board of Directors Authorizes Stock Repurchase TROY, Mich.--(BUSINESS WIRE)--March 2, 1999--Syntel, Inc. (Nasdaq:SYNT - news) today announced that its Board of Directors has authorized the repurchase by the Company of up to 250,000 shares of the company's outstanding common stock on the open market. ''The decision to institute a stock repurchase plan reflects the Board's view that the current market price for the Company's securities does not fairly reflect the Company's present value or potential,'' said Bharat Desai, Syntel Chairman and CEO. ''Since becoming a public company in August 1997, Syntel has consistently met or exceeded earnings estimates, the result of solid top-line growth and a business model that provides for expanding margins.'' Such stock purchases would be made in open market transactions on Nasdaq. Any stock repurchased will be reissued in connection with the Company's employee stock purchase and stock option and incentive plans. About Syntel, Inc. Syntel provides cutting-edge Applications Management and technology consulting services to Fortune 500 companies such as AIG, Dayton Hudson, Ford Motor Company, and Borders, among others. Syntel helps its clients better manage their business applications to improve time to market, productivity, and competitiveness through integrated applications solutions. The company has more than 2,100 employees in North America, Europe, and Asia and operates four world-class Global Development Centers in the US and India. To learn more about Syntel, visit the company web site at: www.syntelinc.com Safe Harbor Provision This news release includes forward-looking statements, including with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's annual 10-K document dated March 30, 1998. Factors that could cause results to differ materially from those set forth above include trends and developments in the information technology industry generally, which is subject to rapid technological change and the Company's concentration of sales in a relatively small number of large customers, as well as intense competition in the information technology industry, which the Company believes will increase. Contact: Syntel, Inc. Jonathan K. James, 919/233-6208 jonathan_james@syntelinc.com or Syntel, Inc. Julie Pitser, 248/619-2827 julie_pitser@syntelinc.com

To: bob who wrote (13761)	3/2/1999 2:45:00 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 13949

Re: The "revolutionary solution" unveiled... you read it here first! Patent #: US1996000715616 Abstract: A method and related input/output devices for using biased 2 digit "hybrid radix" numeric fields for inputting, generating, storing, processing, and outputting year numbers ranging from 1900 to 2059 in a data processing system. In a hybrid radix 2 digit year number, the higher digit is treated as hexadecimal, but displayed in a decimal-like style with font patterns such as 0-9 and '0-'5, while the lower digit is treated as ordinary decimal, so that the year 1900 is represented and processed as 00 while the year 2000 as '00. For applications written with high level languages such as COBOL and SQL, the method can be embodied solely in the system side (compiler, other system software and/or hardware), and so that no change other than a re-compilation with a new compiler is needed for existing application software. Compatibility with existing data files and databases is automatically maintained. Primary/Assistant Examiners: Black; Thomas G.; Homere; Jean R. I claim: 1. A method for using 2 digit "hybrid radix" numeric fields for inputting, generating, storing, processing, and outputting year numbers ranging from 1900 to 2059 in a data processing system, comprising the steps of: a) representing a 4 digit decimal year number with a biased 2 digit hybrid radix year number, with a hexadecimal most significant digit and a decimal least significant digit, and; b) inputting the higher digit of a 2 digit hybrid radix year number in hexadecimal, from an input device capable of entering 2 digit hybrid radix numbers, and storing the digit in the most significant digit position of a 2 digit numeric field in hexadecimal, and inputting the lower digit of the number in decimal, and storing the digit in the least significant digit position of said 2 digit numeric field, and optionally; b') whenever necessary, generating such a 2 digit hybrid radix year number, and storing the generated number in a 2 digit numeric field, and optionally; c) whenever a computational operation is to be applied to a stored 2 digit hybrid radix number, applying hexadecimal arithmetic rules to the most significant digit, and applying decimal arithmetic rules to the least significant digit, and; c') alternatively, whenever a computational operation is to be applied to a stored 2 digit hybrid radix number, expanding the number into 3 digit decimal first, then applying decimal arithmetic rules to all the digits and converting the result back into 2 digit, and optionally; d) whenever necessary, outputting the stored 2 digit hybrid radix year number to an output device capable of displaying or printing 2 digit hybrid radix numbers, with the higher digit in hexadecimal and the lower digit in decimal, and; e) providing a central processor to carry out said operations, whereby a compatibility with the 2 digit pure decimal year numbers used in the existing data files, database records, software, and user interface, can be maintained after year 1999. patents.ibm.com - Jeff

To: bob who wrote (13761)	3/2/1999 3:36:00 PM
From: bob	Read Replies (1) \| Respond to of 13949

Y2K Readiness is Top Priority for NC Electric Co-Ops RALEIGH, N.C., March 2 /PRNewswire/ -- North Carolina's electric cooperatives have been working diligently to achieve Y2K readiness, and are right on schedule, according to a U.S. Department of Energy report prepared by the North American Electric Reliability Council (NERC). The 27 electric distribution cooperatives in this state serve more than 700,000 homes, farms and businesses in 93 counties. "The cooperatives have an on-going commitment to provide reliable electric service to their customers, and that's why they've made the Y2K issue a top priority," said Annette Stamatkin, vice president of information systems for North Carolina Electric Membership Corporation (NCEMC). NCEMC is the wholesale power supply cooperative owned by the distribution co-ops. The NERC report, the second in a series of quarterly assessments, showed that problems associated with Year 2000 date manipulations "do not appear to affect the ability to keep generators and power delivery facilities in service and electricity supplied to customers." Overall participation in the industry-coordinated readiness assessment exceeded 98 percent of the electric systems in the U.S. and Canada, including electric cooperatives. According to Stamatkin, the N.C. electric cooperatives are taking "any and all prudent steps" to keep the electrons flowing to customers on January 1, 2000. NCEMC serves as a technical and educational resource for the co-ops, but each of the independent, member-owned distribution cooperatives has its own Y2K readiness plan. The cooperatives are right on schedule in their inventory, testing and contingency planning efforts. They are coordinating closely with their power suppliers, regulators, grid operators, vendors, manufacturers and outside experts to identify real and potential problems, engage in testing and fixing, and refining contingency plans. "Although no one can make 100 percent guarantees about what will happen when the year 2000 rolls around, the cooperatives are doing everything they can to minimize disruption of power," said Stamatkin. Electric cooperatives in North Carolina are accustomed to dealing with the catastrophic and unexpected outages caused by hurricanes, ice storms, blizzards and other weather phenomena. "While Y2K is certainly different from a storm, it is comparable because it illustrates how we respond to the unexpected," Stamatkin said. "Excellence in emergency preparedness is a vital part of our normal business plan, and Y2K readiness is no exception." SOURCE North Carolina electric co-ops Company News On Call: prnewswire.com or fax, 800-758-5804