Monday December 20, 8:01 am Eastern Time

Company Press Release

Year 2000 Wire/Final Y2K Review
Shows 94 Large U.S. Corporations
May be Ill-Prepared for the
Millennium

PALM BEACH GARDENS, Fla.--(BUSINESS
WIRE)--Dec. 20, 1999--Ninety-four of America's largest
corporations received unsatisfactory Y2K ratings indicating they may not be ready for the
millennium, based on their publicly disclosed Y2K budgets and expenditures, according to Weiss
Ratings, Inc., the only publisher of Y2K ratings on the nation's Fortune 1000 companies. 

Among the 496 companies disclosing sufficient data in their third quarter 1999 filings, 25 companies,
or 5%, received a Weiss Y2K rating of ``Low,'' while 69 firms, or 13.9%, received a grade of ``Below
Average.''1 Meanwhile, 175 companies, or 35.3%, received a Y2K rating of ``Average,'' and 227
companies, or 45.8%, were rated ``High.'' 

``This late in the game, it was widely expected that virtually all large companies would be ready for
Y2K, but the data is telling us that may be far from the case,'' commented Martin D. Weiss, Ph.D.,
chairman of Weiss Ratings, Inc. ``If many of America's largest firms aren't ready, what about the
hundreds of thousands of small- and medium-sized companies that were widely expected to be
lagging in their Y2K readiness?'' 

The Weiss Y2K Ratings, based largely on each company's Y2K budget and expenditures, identify
those that are believed most likely to be lagging or advanced in the remediation process. Companies
rated ``Low'' include: 

      Northwest Airlines, based in St. Paul, Minn., which reported a total Y2K budget of $55
      million, but had spent only $37 million, or 67%, as of September 30, 1999.2
      Lear Corporation, a supplier of automotive interiors based in Southfield, Mich., which
      reported Y2K expenditures of $7 million, or less than half (47%), of its $15 million Y2K
      budget.
      Schering-Plough Corp., based in Madison, N.J., which reported spending only $62 million, or
      65%, of its $95 million Y2K budget.
      Consolidated Natural Gas Co., based in Pittsburgh, Penn., which had spent only $9.9 million,
      or 62%, of its total Y2K budget of $16 million.
      3Com Corp., based in Santa Clara, Calif., which had spent only $8.6 million, or 53%, of its
      $16.3 million Y2K allocation.
      Ameren Corp., based in St. Louis, Mo., which had spent $8 million, or 64%, of its total Y2K
      budget of $12.5 million.
      Whitman Corp., based in Rolling Meadows, Ill., which reported spending $19.2 million, or
      62%, of its $31 million Y2K budget. 

Companies receiving a Y2K grade of ``Below Average'' include pharmaceutical giant American
Home Products Corp., The Kroger Co., PacifiCare Health Systems, Inc., Dynegy Inc.,
Georgia-Pacific Corp., Sun Microsystems, Inc., and Ingram Micro Inc. 

``Some of the companies receiving poor Y2K ratings state in their SEC filings that they have either
completed, or are substantially complete with, remediation and testing. However, they have failed to
account for the large unspent portions of their Y2K budgets. Either these companies have not
actually completed remediation and testing, or they have failed to accurately report their Y2K
budgets and expenditures, as requested by the SEC,'' added Dr. Weiss. 

On the other end of the spectrum, many large companies reported significant progress in allocation
of budgeted Y2K resources. Those receiving a grade of ``High'' include: Exxon Mobil Corp., Philip
Morris Co., AT&T Corp., Sears, Roebuck & Co., The Proctor & Gamble Company, Merrill Lynch &
Co., Motorola Inc., Compaq Computer Corp., The Home Depot, Inc., and AMR Corporation. 

The Weiss Y2K ratings are based on a proprietary model that compares publicly disclosed data on
Y2K budgets and expenditures, over time and in relation to industry peer groups. ``Low'' and
``Below Average'' are considered unfavorable ratings, implying a warning to investors, while ratings
of ``Average'' and ``High'' are considered favorable. 

Weiss Ratings also publishes financial safety ratings and Y2K readiness ratings on insurers, banks,
and S&Ls. The accuracy of its financial safety ratings has been favorably reviewed by the U.S.
General Accounting Office (GAO) as well as national consumer organizations. For more
information, contact Weiss Ratings at (800) 289-9222 or visit the Weiss Ratings web site at
www.weissratings.com. 

1 The survey population is composed of the Fortune 1000 companies. Companies with sufficient data
have disclosed material historical and estimated costs of remediation through the third quarter of
1999. 

2 In its August 10, 1999 10-Q filing, Northwest Airlines stated: ``The company now estimates that
the total project costs will be less than the originally estimated $55 million.'' No updated total
project costs are provided in the November 12, 1999 10-Q statement. 

Contact: 

     Yui & Co.
     Ellen Yui, 301/270-8571
     ellenyui@starpower.net
           or
     Weiss Ratings
     Elizabeth Kelley Grace, 561/989-9855
     lizkgrace@aol.com
     www.weissratings.com.