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COBOL, DATA_DIVISION, clauses, VALUE_IS, 4format EXTERNAL
 *Conan The Librarian 

  The VALUE IS clause defines the values associated with
  condition-names, the initial value of Working-Storage Section data
  items, the value of Report Section printable items, the compile-time
  initialization of variables to the address of data, and to external
  constants.

  Format 4 -

   VALUE IS EXTERNAL external-name

  1 - external-name 

  names a COBOL link-time bound constant.  It must define a word or
  longword integer value.
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