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To: WR who wrote (29714)	3/23/1999 7:08:00 PM
From: WR	Respond to of 31646

Tuesday March 23 1:19 PM ET IBM Sees $575 Million In Year 2000 Spending NEW YORK (Reuters) - International Business Machines Corp. (NYSE:IBM - news) plans to spend $575 million to fix possible Year 2000 glitches on its own computer systems, according to IBM's 1999 annual report released Tuesday. A spokesman said the budget for Year 2000 repair efforts covers spending by the world's largest computer maker from 1997 to 1999, including software code conversion, testing and contingency planning in the event of computer failures. IBM spokesman Rob Wilson said the computer maker plans to take no charge against earnings to cover the costs, which the company plans to absorb as part of its normal budgeting. The so-called millennium bug arises from a practice begun decades ago on IBM mainframe computers, when computer hardware and software programmers began using only the final two digits of a year to represent a year in order to save space and valuable processing time on rudimentary computers. IBM's Year 2000 related spending is dwarfed by the $82 billion in revenues the company reported for 1998 alone. The spending is part of an estimated $300 billion to $600 billion that industry analysts have projected will be spent by companies in order to fix computer systems in order to recognize dates beginning in the Year 2000. IBM's outlay compares to the $550 million auto maker General Motors Corp. (NYSE:GM - news) has disclosed it plans to spend on Year 2000 remedies. dailynews.yahoo.com