The following is a status update regarding the agreed upon decision to
allocate Drift to the Business Units on April 26, 2001:
A methodology and systems reporting have been developed and an analysis
prepared for the period Jan 2001 - April 2001. During May, discussions were
held with each of the business units regarding the methodolgy which applies
to all business units and the analysis of results for Jan- April.
A request was made to begin the Drift Allocation process from April 2001.
During this week, we are meeting with the business units to review April and
May numbers and processes. We are expecting to allocate April and May to the
individual business unit's Drift lines next week.
June numbers will be accumulated on the DPR in an Intra-Month Allocated Drift
line and allocated on the last business day's DPR to the Business Unit.
Please do not hesitate to call me, 3-3210, or the representatives of your
business unit, if you require additional information.