Server: Netscape-Enterprise/2.01 Date: Thu, 18 Dec 1997 13:00:41 GMT Accept-ranges: bytes Last-modified: Tue, 02 Dec 1997 21:10:12 GMT Content-length: 2142 Content-type: text/html Year 2000 Compliance Position

Magna Group, Inc.

 

Year 2000 Compliance Position

 

Magna has committed what it believes are significant resources to meeting its goal
of achieving full year 2000 compliance by December 31, 1998. A dedicated internal
task force, supplemented with outside consulting resources, has worked to evaluate
the scope of the situation and developed a comprehensive action plan. The task
force has completed a number of portions of its plan. Areas being addressed
include: in-house developed programs, PC and client services applications, hardware
upgrades, mainframe operating system and banking applications, third-party vendor
assessments, and compliance testing.

Magna envisions compliance of its systems to be in line with the following Federal
Reserve definition:

Software and hardware systems are defined as compliant if they can demonstrate
correct management and manipulation of data involving dates, including single-
century and multi-century formulas, without causing an abnormally ended scenario
within the system of data exchanges via applications interfaces, as well as data
spanning the period before, during, and after the turn of the century.

Should you have any specific questions about our Year 2000 activities, please contact
your Magna Relationship Officer.

We look forward to serving you in this century and the next.