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

To: bob who wrote (13855)	4/15/1999 8:32:00 AM
From: bob	Read Replies (1) \| Respond to of 13949

Thursday April 15, 7:55 am Eastern Time Company Press Release SOURCE: CACI International Inc. CACI Awarded $4.7 Million Y2K Contract for Statewide Independent Verification and Validation with Commonwealth of Virginia ARLINGTON, Va., April 15 /PRNewswire/ -- CACI International Inc. (Nasdaq: CACI - news) announced today that it has been awarded a contract by the Commonwealth of Virginia's Century Date Change Initiative (CDCI) Project Office to provide independent verification and validation (IV&V) for the Commonwealth's Year 2000 solutions to agencies ranked within Level I. The delivery order award, drawn against an existing Y2K contract CACI has with Virginia, is estimated to be worth $4.7 million dollars. CACI will apply its Audit 2000 methodology across all of Virginia's agencies to support the Commonwealth's goal of assuring that verification and due diligence have been performed in all Y2K activities. For Level I Priority Business Activities, a full IV&V will be conducted. Virginia's CDCI Project Office monitors the Commonwealth's efforts to remediate its information systems for Y2K compliance, and reports on these efforts to the Governor of Virginia. While each Commonwealth agency is free to implement its own Y2K solution, the CDCI Project Office oversees all implementations, and has contracted with CACI to provide Level I third-party verification and validation that these solutions are proceeding as planned. CACI's technical approach will include its Audit 2000 professional services and training, part of the company's Restore 2000SM millennium conversion methodology. Using processes certified by the Information Technology Association of America as meeting the highest standards for Y2K remediation, Audit 2000 helps organizations verify that the investments they are making to bring their systems and software to Y2K compliance will be effective. Service offerings range from a ''Y2K scorecard'' to progressively detailed approaches that not only identify troublespots but also help implement their resolution. ''We're proud of our growing record of service with Virginia,'' said Ronald R. Ross, CACI President and Chief Operating Officer. ''Choosing CACI as a vendor for Y2K IV&V services ensures a consistent approach that brings efficiencies to the technical effort, and delivers time and money savings in management. We ensure this through our proven Audit 2000 methodology, as well as the Y2K expertise we've refined through many engagements with public and private sector clients alike. This award also is part of CACI's overall initiative to provide an expanded solution set to our state and local client base.'' Dr. J.P. (Jack) London, CACI Chairman and CEO, said ''With CACI's support, the Commonwealth of Virginia is providing independent assurance that its Y2K solutions will meet the needs of Virginia's agencies, partners, clients, and vendors. By conducting statewide verification and validation, Virginia is establishing a powerful model for protecting technology investments and reducing the risk of potential litigation. The due diligence CACI provides should be part of every smart public and private sector entity's plan to address Y2K challenges, and the expertise we offer takes advantage of the industry's best tools and practices.'' CACI International Inc (http://www.caci.com) is an information technology products and services provider specializing in developing and integrating systems, software, and simulation products and providing information assurance services to public sector agencies and commercial enterprises worldwide. Celebrating 37 years in business, the company has approximately 4,200 employees and operates out of approximately 92 offices in the U.S. and Europe. Restore 2000 is a service mark of CACI. SOURCE: CACI International Inc.

To: bob who wrote (13855)	4/28/1999 6:48:00 PM
From: bob	Read Replies (1) \| Respond to of 13949

White House threatens to veto bill curbing Y2K suits By Adam Entous WASHINGTON, April 28 (Reuters) - The White House threatened on Wednesday to veto legislation limiting lawsuits against companies stemming from the year 2000 computer bug, saying such a law could undermine readiness by taking pressure off the businesses charged with fixing the problem. The bill, by Senate Commerce Committee Chairman John McCain, an Arizona Republican, would delay the filing of year 2000 computer bug lawsuits during a 90-day ''cooling-off'' period, cap punitive damages and limit the liability of company executives in millennium bug cases. ''The administration's overriding concern is that (the legislation) will not enhance readiness and may, in fact, decrease the incentives organizations have to be ready and assist customers and business partners to be ready for the transition to the next century,'' the White House's Office of Management and Budget said in a statement. Unless changes were made to the bill, which was co-sponsored by Oregon Democratic Sen. Ron Wyden, ''the attorney general would recommend a veto,'' the White House said. The millennium bug, often referred to as Y2K for the year 2000, arises because many older computers record dates using only the last two digits of the year. If left uncorrected such systems could treat 2000 as 1900, generating errors or system crashes next Jan. 1. Backed by politically powerful computer makers and software companies, banks, and manufacturers, McCain and other Republicans said the bill was needed to avert a flood of lawsuits. According to some estimates litigation costs could add up to $1 trillion. But most Senate Democrats, under pressure from trial lawyers and consumer advocates, said they opposed the bill because it would curb the rights of computer users to sue companies if their systems crash Jan. 1. Specifically, Democrats oppose provisions capping punitive damages at $250,000 for many businesses and limiting the liability of top executives to $100,000. ''We want to encourage these key decision makers to be overseeing aggressive year 2000 compliance measures,'' said Sen. Patrick Leahy of Vermont, ranking Democrat on the Judiciary Committee. ''Instead, this bill says to corporate officers and directors: 'Don't worry, be happy.''' The White House complained McCain's measure would protect companies and their top executives even if they did nothing to fix Y2K-related problems. The Clinton administration also said the bill would change state laws and thereby ''raise federalism concerns.'' McCain defended his bill, saying he had already agreed to change some of the provisions to give more protection to consumers in court. In so doing he won the support of Wyden and a few other Democrats. But the White House and many Senate Democrats said they were not satisfied. They want the caps dropped and are demanding other changes. To secure these changes the White House said it was working with lawmakers on several amendments. OMB said these would encourage companies to fix Y2K problems before they occur next Jan. 1, weed out ''frivolous lawsuits,'' and encourage alternatives to litigation. McCain said these changes threatened to ''gut'' the bill. Wyden said he was open to amendments to reach a compromise.