RE: Year 2000 Readiness Disclosure
Securities Management and Research, Inc. appreciates your interest regarding the Year 2000. We take
the potential Year 2000 bug problem seriously and have invested
considerable cost and manpower in providing decisive and timely
resolutions. Outlined below you will find a brief synopsis of efforts.
The following measures represent an ongoing strategy and have the
potential to change in design and scope in order to continue addressing
the dynamic Y2K issue:
Inventory and Evaluation
All hardware, software and third-party
services have been reviewed and evaluated based on known Y2K issues,
expected integrity compromises and theoretical unknowns which
may play a pivotal role in peripheral systems.
Definition of Project Scope and
Resource Allotment
Securities Management and Research,
Inc. has worked closely with its affiliated companies to develop
an unrestricted and fully supported task force aimed at the methodical
implementation of our now defined and detailed Y2K Solution. This
solution covers all aspects of our organization including daily,
monthly, cyclical and yearly tasks as they apply to our hardware,
software and third-party service systems.
Execution
Hardware and Software continues to
be tested in our “live environment” facilities lab. Third-party
services are being verified Y2K compliant by personal contact, web-site,
corporate literature, legal contract, newsletter or formal correspondence.
In the event of non-compliance, Securities Management and Research,
Inc. is preparing contingency measures to ensure operational integrity.
Analysis
Output from daily activities is compared
with mirrored information from our “live environment” facilities
lab. Result sets and procedures are evaluated for data integrity
and consistency of reliability. Actual results are mapped to
provide redirection and refinement of project scope and/or focus
to ensure total Y2K compliance.
Contingency
Securities Management and Research,
Inc. recognizes the possibility of unforeseen factors being introduced
into a constantly changing technology environment. As such we have
taken steps to provide alternative methods for completing tasks
and daily objectives. Securities Management and Research, Inc.
remains committed to a goal of 100% Year 2000 Compliance.
Very Truly Yours,
Brenda Koelemay
Chief Administrative Officer
Year 2000 Project Coordinator
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