Vodafone 1998 Annual Report Download - page 62

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Vodafone Report and Accounts - Financial Review
Year 2000
The Year 2000 issue, relating to date sensitive calculations, is one which
affects all companies which are reliant on computer based technologies. The
Group is giving high priority to the impact of the millennium and is taking
significant and positive steps to minimise the effect of the Year 2000 date
change on the Group's ability to maintain its networks and to continue to
provide services to customers.
Each subsidiary within the Group has implemented a Year 2000 programme
which is managed through an executive steering group chaired by a director
of that company and progress is regularly monitored by the Executive
Committee of Vodafone Group Plc.
The Vodafone Group is operating to policies which seek to ensure that the
businesses and all operations of the Vodafone Group meet the definition of
Year 2000 conformity, as set out in DISC PD2000-1 "A Definition of Year
2000 Conformity Requirements" issued by the British Standards Institution, by
31 December 1998, although compliance is dependent upon suppliers
meeting their targets.
The Group has incurred costs of approximately £4m in the current financial
year in relation to Year 2000 compliance and is satisfied that the total future
amount will not be material to the future profitability or liquidity of the Group.
However, an element of the cost of Year 2000 compliance is not separately
identifiable, as millennium modifications are often embodied in software
purchased and developed in the normal course of business.
http://www.vodafone.com/download/investor/reports/annual98/financialreview/year2000.html29/03/2007 23:09:39