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Last Updated: Thursday, 1 July, 2004, 17:25 GMT 18:25 UK
Microsoft banks cash for EU fine
Microsoft co-founder Bill Gates
Microsoft has set aside 497m euros ($604m; 333m) to pay the record fine imposed on it by the European Union.

The software giant was hit with the penalty in March after it was found to have abused its market position.

Microsoft said it is legally required to transfer the funds into a holding, or ESCROW, account pending the outcome of its appeal against the decision.

The company claims the EU's ruling will hamper innovation and competition within the industry.

Under the initial ruling, Microsoft also was told to reveal secrets of its Windows software, which runs on 90% of the world's PCs, and change how it sells some of its products.

However, these measures were suspended by the EU over the weekend also pending the outcome of Microsoft's appeal.

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