$script=$ARGV[3];         # Value of this $ARGV is   NEW&OLD
:
:
$otis_db="$base_dir/otis_db/cos.$script.$cdate.$pid";
:
:
:
:
        chomp($end_date=`date +%m/%d/%Y_%T`);
        $end_date=~s/_/ /g;
        $values="(\'$file_name\',\'$send_from_dir\',\'$serv_ref\',TO_DATE\(\'$end_date\',\'MM\/DD\/YYYY HH24:MI:SS\'))\;";
:
I placed this line right before the echo statement.  Was getting an error could not upload " cos.NEW&OLD.082609.12345" because it could not be found.  But it did create the file "cos.NEW".  The & and anything after is ignored. 
        $script=~s/(\W)/_/g;
:
        `echo "INSERT into COSBRIDGE\n\tvalues$values\n" >> $otis_db`;