DATE=5/13/02

TYPE=CORRESPONDENT REPORT

TITLE= BUSH/RUSSIA/ARMS (S-Update)

NUMBER=2-289737

BYLINE= PAULA WOLFSON

DATELINE= WHITE HOUSE

CONTENT=

VOICED AT:

/// EDS: UPDATES 2-289725 ///

INTRO: President Bush says the United States and Russia have reached an agreement on deep cuts in nuclear weapons. V-O-A's Paula Wolfson reports, Mr. Bush is expected to sign the document with Russian President Vladimir Putin next week in Moscow.

TEXT: President Bush says the deal is "good news," and marks the start of a new era of enhanced mutual security.

/// BUSH ACT ///

I am pleased to announce that the United States and Russia have agreed to a treaty, which will substantially reduce our nuclear arsenals.

/// END ACT ///

Under the agreement, they will slash their arsenals by about two-thirds over the next 10 years.

A senior Bush administration official estimates that each side now has between five-thousand and six-thousand operational warheads. He says the goal is to reduce that level to between 17-hundred and 22-hundred by 2012.

The negotiations were completed in only five-to-six months, and resulted in a document that is only three pages long. Russia got its goal of a formal treaty, and the United States got its demand for flexibility in deciding how weapons will be taken out of service.

A signing ceremony will be held on May 24th in Moscow, and is expected to be the highlight of the president's trip to Russia. Mr. Bush will also visit St. Petersburg President Putin's home town. (signed)

NEB/PW/TW