PRESS RELEASE

Information on the ECB's year 2000 compliance activities

24 June 1999

The bilateral Year 2000 compliance tests of ESCB-wide systems were successfully completed on 19 June 1999. The outcome of these tests marks a significant step forward in establishing the overall compliance status of the ESCB. Taking into account the result of these tests, on Thursday, 24 June 1999 at 12 p.m. the text on

"Activities to ensure Year 2000 compliance of IT systems in use at the European Central Bank and at the European System of Central Banks"

published on the ECB Web site will be updated.

At the same time, the ECB will add to its Web site a text on

"TARGET Year 2000 preparations".

This text is intended to inform interested parties of the internal IT and business functionality tests which are being conducted under the responsibility of each individual institution connected to TARGET. In addition, it reports on the multilateral business functionality tests of the TARGET system as a whole.

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