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It is one thousandths.
depends, you want it before or after the decimal point? before= 001 after= .001
001
It appears to come up for medical centers (hospitals) and colleges and universities in Pennsylvania. The 001 exchange is odd and may be an internal number, not typically connectable from outside numbers.
There is one significant figure in the number .001. Leading zeroes, which only serve to indicate the position of the decimal, are never significant.