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IBM to Sell its Information Services Extended Directory Assistance Solution to ISX, Inc.


NEW YORK - 09 Nov 2000: -IBM has entered into an agreement to sell its information services extended directory assistance solution to a company newly formed by Spencer Trask Intellectual Capital Company LLC, a leading private equity firm. IBM will retain an equity interest in the new company. The new company, named Information Services eXtended, Inc. (ISx, Inc.), will feature a suite of telecommunications applications and products that support accurate delivery of directory listings and other information services by operators, voice over IP and new wireless devices.

The acquisition of the IBM information services extended directory assistance solution will allow ISx, Inc. to focus more exclusively on the needs of the rapidly growing directory assistance market. ISx, Inc. plans to maintain a close relationship with IBM. ISx, Inc. will be an IBM business partner, and will continue to work with the IBM worldwide sales teams and provide services to customers through IBM Global Services. IBM will be represented on the Board of Directors of the new company.

"ISx, Inc. plans to offer a host of innovative new services to better serve the needs of our customers," said Mike Hill, General Manager of IBM's Global Telecommunications Sector and a member of the Board of Directors of ISx, Inc. "We envision ISx, Inc. becoming the engine that enables customers to deliver information anytime, anywhere."

ISx, Inc. is well poised to be a leader in the burgeoning telecommunications services market. With the addition of the information services extended directory assistance assets, the new company will have over 20 years of experience as a market leader in providing operator service solutions, and a strong record of technological and service excellence in North and South America, Europe, Asia and Australia.

ISx, Inc. plans to expand functionality in its core market areas by developing enhanced information services to wireline and wireless customers and to enable non-traditional, untethered information. Spencer Trask will utilize its vast experience in the telecommunications and technology arenas to assist ISx, Inc. in aggressively marketing and expanding its services.

"We see an enormous opportunity to address the world's mobile commerce market," said Tom McClain, Chairman of ISx, Inc. and a partner with Spencer Trask Intellectual Capital Company, LLC. "We believe ISx, Inc. will have the leading platform to deliver relevant, timely and accurate content."

Terms were not disclosed.

About ISx, Inc.

ISx, Inc. is a private company focused on delivering innovative telecommunications solutions. Following the completion of the acquisition of the information services extended assets from IBM, the company will offer a range of technologically advanced products designed to facilitate operator directory assistance and enhanced information services.

About IBM

IBM is the world's largest information technology company, with 80 years of leadership in helping businesses innovate. Drawing on resources from across IBM and key Business Partners, IBM offers a wide range of services, solutions and technologies that enable organizations to take full advantage of the new era of e-business. The fastest way to get more information about IBM is through the IBM home page at http://www.ibm.com.

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Contact(s) information

IBM
Jo McKenna

IBM
212-745-5995
jomckenn@us.ibm.com

ISX, Inc.
Ken Ducey

IBM
203-431-9915

Spencer Trask
Eric Paul

IBM
212-355-5565 Ext. 362

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