This is correct:

However another Training Company (quite reputable) are telling me that I
only need to sit the Accelerated exam and a design exam.

If you pass the accelerated exam and a design exam you will still be an
MCSE, but when TCP/IP is retired, you will need to take another, current
elective.

Jim Skelson
MCSE(NT4)

http://www.sunbelt-software.com/ntsysadmin_list_charter.htm

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