The Company stated that the delay in the timely filing of these
Reports was owing to the installation of a new general ledger
software package on November 1, 1999 in order for the
Company's accounting system to be Y2K compliant. The
timing of the change in accounting system resulted in the
accounting entries for the fourth quarter of fiscal year 1999
being recorded in two separate accounting systems. The
substantial amount of accounting, system, data processing
changes and debugging required to integrate the two systems
took longer than originally anticipated, resulting in the delayed
filing with the SEC of the Reports. The Company had
previously made a filing with the SEC seeking an extension in
the time required to file its Fiscal Year 1999 Annual Report
because of the change in accounting systems

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-- spider (spider0@usa.net), June 13, 2000