In Brief: Citigroup Adds $50M to Cost of Y2K Fixes

Citigroup said completion of its year-2000-related computer conversions would cost $50 million more than previously was estimated.

The increase, revealed in an a Securities and Exchange Commission quarterly filing for the period ended June 30, would bring the bank's total pre-tax year 2000 conversion cost to about $950 million. To date, about $830 million has been incurred, including $170 million in the first six months of 1999. -- Carol Power

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