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Recent
Accounting Standards
Statement of Financial Accounting Standards (SFAS) No. 133,
"Accounting for Derivative Instruments and Hedging Activities,"
is required to be implemented in the first quarter of the Company's fiscal
year 2001. The Company has begun its analysis of the impact of SFAS No.
133 on its consolidated financial condition and results of operations,
and the effect of the pronouncement is not expected to be material. The
Company is reviewing SEC Staff Accounting Bulletin (SAB) No. 101, "Revenue
Recognition in Financial Statements" and does not expect the effect
of the pronouncement on its consolidated financial condition and results
of operations to be material.
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