kaled - 2:18 pm on Feb 17, 2010 (gmt 0)
No No No
However, most examples in English grammar with acronyms call for each letter to be said individually.
Firstly, this is a vocabulary issue not a grammar issue.
Secondly, by definition an acronym is a word and should not be spelled out when spoken.
Examples of acronyms : laser & NATO
NATO is normally written in capitals because its a name (and each part would begin with a capital).