Again, even a conservative estimate based on these numbers represents a material cost to most organizations. While this coverage helps to promote awareness of the problem, it also artificially drives the prices of some Year 2000 stocks. In addition, we believe that margins on Year 2000 solutions will increase dramatically as affected corporations become aware of the magnitude of the problem, and as solution-providers gain experience. We emphasize that the problem is real, huge, and did not, in fact, develop overnight. Because the financial and popular news media have only recently become aware of the issue and begun to explain and discuss the problem, the issue appears to be new.
Additional information is available upon request.
Information herein is believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan may hold a position or act as market maker in the financial instruments of any issuer discussed herein or act as advisor or lender to such issuer.