P.B.I. :: Impact of Year 2000

P.B. Industries, Inc.

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Impact of Year 2000

The year 2000 issue is the result of computer programs being written using two digits rather than four to define the applicable year. Any of the company's computer programs that have time sensitive software may recognize a date using "00" as the year 1900 rather than the year 2000. This could result in a system failure for miscalculations causing disruptions of operations, including, among other things, a temporary inability to process transactions, send invoices, or engage in similar normal business activities.
The Company uses software that has been developed internally as well as that developed by third party vendors. Most of the internally developed software had addressed the year 2000 issue during development by the end of 1998.
The Company has initiated formal communications with all of its significant suppliers to determine the extent to which the Company's interface systems are vulnerable to third parties' failure to remediate their own year 2000 issues. These vendors are in various stages of evaluating their year 2000 issues. Costs to the Company for updates on these third parties' software are included in the normal fees that are part of the contract for such software. However, there can be no guarantee that the systems of these other companies on which the Company's systems rely will be timely converted and would not have an adverse effect on the Company's systems.
The costs of the project and the date on which the Company believes it will complete the Year 2000 modifications are based on management's best estimates, which were derived utilizing numerous assumptions of future events, including the continued availability of certain resources, third party modification plans and other factors. However, there can be no guarantee that these estimates will be achieved and actual results could differ materially from those anticipated. Specific factors that might cause such material differences include, but are not limited to, the availability and cost of personnel trained in this are, the ability to locate and correct all relevant computer does, and similar uncertainties.

Contents © 2000, P.B. Industries, Inc. All Rights Reserved.


COMPANY PROFILE SERVICES CY & TERMINAL TECHNOLOGY DRIVER RESOURCES PBI EMPLOYMENT PBI INFORMATION NEWSLETTER CONTACT PBI
		The year 2000 issue is the result of computer programs being written using two digits rather than four to define the applicable year. Any of the company's computer programs that have time sensitive software may recognize a date using "00" as the year 1900 rather than the year 2000. This could result in a system failure for miscalculations causing disruptions of operations, including, among other things, a temporary inability to process transactions, send invoices, or engage in similar normal business activities. The Company uses software that has been developed internally as well as that developed by third party vendors. Most of the internally developed software had addressed the year 2000 issue during development by the end of 1998. The Company has initiated formal communications with all of its significant suppliers to determine the extent to which the Company's interface systems are vulnerable to third parties' failure to remediate their own year 2000 issues. These vendors are in various stages of evaluating their year 2000 issues. Costs to the Company for updates on these third parties' software are included in the normal fees that are part of the contract for such software. However, there can be no guarantee that the systems of these other companies on which the Company's systems rely will be timely converted and would not have an adverse effect on the Company's systems. The costs of the project and the date on which the Company believes it will complete the Year 2000 modifications are based on management's best estimates, which were derived utilizing numerous assumptions of future events, including the continued availability of certain resources, third party modification plans and other factors. However, there can be no guarantee that these estimates will be achieved and actual results could differ materially from those anticipated. Specific factors that might cause such material differences include, but are not limited to, the availability and cost of personnel trained in this are, the ability to locate and correct all relevant computer does, and similar uncertainties.
	Contents © 2000, P.B. Industries, Inc. All Rights Reserved.