UK tobacco giant BAT Industries told its shareholders last week that it would spend up to #50 million to ensure its systems do not fall over on 1 January 2000.
BAT is the first European corporation to publicly announce a figure for fixing the Year 2000 software problem. Senior executives told delegates the money would be spent on protecting systems that manage its tobacco and financial services interests, which include Eagle Star and Allied Dunbar. The company expects to invest between #40 million and #50 million until 2000 and beyond.
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