This just in from:
http://www.macnn.com/feature.php?id=173

"First, an Office 2001 Service Release will be available in March that will
fix several outstanding issues and ensure that the product runs flawlessly
in Mac OS X under the Classic environment.

Second, the wraps on Outlook:mac 2001, code-named Watson, were taken off.
The product was demonstrated to the crowd by Jensen Harris, Product Manager.
The software will be available this summer while a public beta is available
today from Microsoft's Mactopia.

Third, Office 2001 for OS X was demonstrated publicly for the first time.
Contrary to the modest change in product name, Browne told the crowd that it
"represents a major upgrade," far beyond Carbonization. The software will be
ready in the fall, and upgrades from previous versions (including Office
2001) will be $299. Users who purchase Office 2001 today, and for a limited,
will be able to upgrade for $149. Office 2001 for OS X is not on demo at
Microsoft's booth, however. "

Any word on us current users getting the $149 upgrade price?

=Dave Holst
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