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Further to our announcement to the Exchange on September 1, 1999 in respect of the above subject, we wish to inform you that MBSB is in the final stages of ensuring the existing systems and operations is Y2K ready. The main business system is already Y2K ready while for all other affected areas, testing and remediation work is in progress.
Our current status of readiness is approximately 92% and the entire Y2K exercise is targeted to be completed by October, 1999.