On Y2K compliance

The letter from Mr. Adrianus Hiyung Tjung (April 3) discussing Y2K preparedness raises a very valid point.

Our company the Hongkong and Shanghai Banking Corporation's (HSBC) target date to have its relational (customer facing) systems Y2K compliant was Dec. 31, 1998, with the objective of ensuring there is no disruption to the services we provide to customers. HSBC has conducted an exhaustive Y2K upgrade and testing process over the past years and we are pleased to advise that all HSBC internal systems are now compliant.

This is particularly so with the latest release Telephone Banking technology that we currently offer to our customers, as this was designed, written and introduced to avoid Y2K issues. Starting last year, we even contacted our major business customers to raise with them exactly the same issue that Mr. Tjung now mentions. We are now in the process of advising all customers of the integrity of our systems.

We thank Mr. Tjung for raising this matter and allowing us the opportunity to assure all our customers that all HSBC internal systems are Y2K compliant.

LEILA DJAFAAR

HSBC, Jakarta