"In this decentralized environment, it's really hard," she says.

To these worries, the University had at least 14 billion more to add.

The Harvard Management Company (HMC), which invests the University's endowment, has been testing rigorously to make sure the records of their investments will not be lost as a result of the computer glitch.

And while the bulk of endowment seems to be protected, HMC President Jack R. Meyer says there could be problems with HMC investments in developing markets like India and Colombia, where Y2K preparation has not been sufficient.

"We're a little concerned in some less developed markets that things might not be tested," Meyer says.

The situation could complicate HMC's investments in those markets, making it difficult to trade there, but Meyer adds that the situation is not grave enough for HMC to sell those securities.

BAND-AIDS FOR THE MILLENNIUM

For more than a year, Harvard has been trying to respond to the Y2K bug, setting up a team of experts to address the problem.

The core financials and the systems that looked to threaten human safety have, for the most part, been reprogrammed to be able to deal with the date change. And to test the effect of these corrective measures, the University has turned the clock forward to make sure its important machinery doesn't shut down.

So far, officials say, testing has been successful.

"I'm pretty comfortable with where we are," says Provost Harvey V. Fineberg '67.

The multitude of buildings and schools under the auspices of Harvard University makes it nearly impossible to develop one overarching contingency plan. Instead, representatives within each faculty have begun to examine the situation at their respective schools and come up with plans for dealing with the problem.

Year 2000 Project Coordinators Liz Eagan and Scott Bradner oversee the efforts across the University, and they pass along the Y2K plans and reports to Harvard's administrative deans and vice presidents--the "project sponsors"--for review.

"They've been briefed right along on progress and concerns, and are happy to hear the latest update," Eagan says.

She says the deans and vice presidents should review drafts of the Y2K plans by July.