SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): December 3, 1998
E. I. du Pont de Nemours and Company
(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-815 51-0014090
(State or Other Jurisdiction (Commission (I.R.S Employer
of Incorporation) File Number) Identification No.)
1007 Market Street
Wilmington, Delaware 19898
(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 774-1000
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Item 5. Other Events
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The Year 2000 statements attached as an exhibit to and
incorporated by reference in this Current report on Form 8-K
are hereby designated as "Year 2000 Readiness Disclosures" as
defined in section 3(9) of the Year 2000 Information and
Readiness Disclosure Act (Public Law 105-271), enacted on
October 19, 1998. These "Year 2000 Readiness Disclosures"
represent statements included in prior filings with the
Securities and Exchange Commission which have been and in the
future may be superseded by the Company's most current
disclosure regarding Year 2000 readiness. As of the date of
this filing, the Company's most current disclosure regarding
Year 2000 readiness is included in the Company's Quarterly
Report on form 10-Q for the quarter ended September 30, 1998.
Item 7. Financial Statements, Pro Forma Financial
Statements and Exhibits
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c. Exhibits. The following exhibit is filed as part of this
Current Report on Form 8-K:
Exhibit
No. Description of Exhibit
- ------- ---------------------------------------------------
99 1. Copy of the Registrant's "Year 2000 Readiness
Disclosure" from the company's Annual Report on
Form 10-K for the year ended December 31, 1997.
2. Copy of the Registrant's "Year 2000 Readiness
Disclosure" from the company's Quarterly Report
on Form 10-Q for the quarter ended June 30,
1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
E. I. DU PONT DE NEMOURS AND COMPANY
(Registrant)
/s/ D. B. Smith
------------------------------------
D. B. Smith
Assistant Controller
December 3, 1998
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EXHIBIT INDEX
Exhibit
No. Description of Exhibit
- ------- ---------------------------------------------------
99 1. Copy of the Registrant's "Year 2000 Readiness
Disclosure" from the company's Annual Report on
Form 10-K for the year ended December 31, 1997.
2. Copy of the Registrant's "Year 2000 Readiness
Disclosure" from the company's Quarterly Report
on Form 10-Q for the quarter ended June 30,
1998.
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EXHIBIT 99
"YEAR 2000 READINESS DISCLOSURES"
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1. Copy of the Registrant's "Year 2000 Readiness Disclosure" from the
company's Annual Report on Form 10-K for the year ended December 31, 1997.
YEAR 2000
Historically, certain computer programs have been written using two digits
rather than four digits to define the applicable year, which could result
in computers recognizing a date using "00" as the year 1900 rather than
the year 2000. This could result in major system failures or miscalcula-
tions, and is generally referred to as the "Year 2000" problem or issue.
The company is conducting a global assessment of its key internal computer
systems and software and will take steps necessary to ensure that its
information technology infrastructure will be Year 2000-capable. The com-
pany has established a "Year 2000 Project Office" to lead and coordinate
all of its global Year 2000 activities. This office is accountable to
provide the necessary leadership, tools and knowledge required by all
operating units to become Year 2000-capable. The company is also working
with Computer Sciences Corporation and Andersen Consulting, who operate
the majority of the company's global information systems and technology
infrastructure, so that the services they provide will be Year 2000-
capable. At this time, the company cannot reasonably estimate the poten-
tial impact on its financial position and operations if key suppliers,
customers and other constituents (e.g., government) do not become Year
2000-capable on a timely basis.
Out-of-pocket costs incurred to become Year 2000-capable are currently
estimated to be about $200 million and are not expected to have a material
adverse effect on the company's financial condition, operations or
liquidity. The company will devote all necessary resources to make its
key systems Year 2000-capable on a timely basis.
2. Copy of the Registrant's "Year 2000 Readiness Disclosure" from the
company's Quarterly Report on Form 10-Q for the quarter ended June 30,
1998.
YEAR 2000
The company has essentially completed the inventory and assessment phases
and has entered the remediation and testing phases of its plan to become
Year 2000-capable. The company's target for completing its Year 2000
modifications is mid-1999; however, additional refinements and testing may
continue through the end of 1999.
The company currently expects total out-of-pocket costs to become Year
2000-capable to be in the range of $300 to $400 million. The company
expects that such costs will not have a material adverse effect on the
company's financial condition, operations or liquidity.
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The foregoing timetable and assessment of costs to become Year 2000-
capable reflect management's best estimates. These estimates are based
upon many assumptions, including assumptions about the cost, availability
and ability of resources to locate, remediate and modify affected systems.
Based upon its activities to date, the company does not believe that these
factors will cause results to differ significantly from those estimated.
However, the company cannot reasonably estimate the potential impact on
its financial condition and operations if key third parties, including
governments, do not become Year 2000-capable on a timely basis. The com-
pany is working through various trade associations as well as communicat-
ing directly with its significant suppliers and customers to determine
their Year 2000 capability. In addition, the company has begun contin-
gency planning to handle potential disruptions in electrical, telecommuni-
cations, transportation and distribution services. There can be no
guarantee that these efforts will prevent the failure of third parties to
become Year 2000-capable from having a material adverse affect on the
company's financial condition or operations.
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