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IBM to Repurchase Up to $1 Billion of Stock

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IBM has announced that it plans to repurchase up to $1 billion of its outstanding common stock in open market transactions by the end of February 2008.

These repurchases, originally planned for March and April of 2008, are in addition to a $12.5 billion accelerated share repurchase announced earlier this year.

"These stock repurchases are enabled by IBM’s strong, consistent cash flow and are an important way of returning value to IBM shareholders," said Samuel J. Palmisano, IBM chairman, president and chief executive officer.  "They are an element of our long-term roadmap for earnings per share growth through 2010 and also represent a good value at today’s prices."

In April the IBM board of directors authorized $15 billion for the company’s stock repurchase program. In May IBM announced it would repurchase $12.5 billion of its outstanding common stock from three banks through accelerated share repurchase agreements that will conclude at the end of February 2008.

At the end of September, IBM had approximately $1.7 billion remaining for stock repurchases from the April authorization.

Additional information about this share repurchase activity is available at IBM’s investor web site at:
IBM Investor Relations

IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity, and service.

For more information, visit: www.ibm.com.

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