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This is not a virus but a trojan. Warnings about this trojan have been exceptionally widespread and have been circulated since early 1995.

This is a trojan, so it does not spread: it can not be considered a realistic threat. PKZ300 trojan is not widespread but the warning is.

CIAC has released an advisory on this hoax. Please see ciac.llnl.gov/ciac/CIACHoaxes.html

[Mikko Hypponen, Data Fellows Ltd's F-PROT Pro Support]