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IBM’s Flexible enterprise financing program provides Just-in-time financing for large e-business projects

A&P Uses New Financing To Support Project Great Renewal

ARMONK, New York - 11 Oct 2000: . . . IBM today introduced a just-in-time financing offering for large-scale e-business projects, in which payments for products and services can be adjusted to the timing of a solution roll-out. Featuring flexible terms and below market rates, IBM Global Financing's Flexible Enterprise Financing program enables qualified customers to finance IBM and non-IBM related hardware, software and services, for a complete solution.

The program allows customers to implement multi-phase, e-business projects without adversely affecting their current budgets. Customers can finance a solution at any point in a project and up to five years beyond the life of the project. Instead of major capital outlays for hardware, software and services at the beginning of the implementation, IBM Global Financing's Flexible Enterprise Financing program enables customers to fund the project during development and implementation, including gearing payment streams to projected benefits. With the proliferation of e-business, the demand for flexible financing solutions, including software and services, is essential to a company's success. GroupGartner predicts that $600 billion will be spent on e-business solutions by 2003. Companies need solutions that not only provide them with a competitive edge in today's marketplace, but that are also affordable.

"Access to flexible and competitive financing options is a critical component of e-business implementation,' said William Doscas, vice president, financial products and sales operations, IBM Global Financing. "IBM Global Financing's new program brings a unique approach to financing that is tailored to meet a company's particular needs, helping them make the IT investments they require to remain competitive in today's e-marketplace."

A&P, one of the nation's largest supermarket chains, chose IBM Global Financing to fund the IT elements of its "Project Great Renewal." The IT elements include developing retail process, systems and information solutions - an effort that will restructure A&P's core business processes, provide Internet-based e-business capability, implement systems solutions for current and projected needs and enhance the customer's ability to leverage information. A&P will benefit from reduced inventory costs and increased sales.

"We needed a comprehensive financing solution that would enable the roll-out of systems to support our Project Great Renewal. We selected the Flexible Enterprise Financing program because IBM was able to customize the payments to meet our specific budget requirements and projected benefit streams," commented Mitchell P. Goldstein, senior vice president, finance and treasurer, A&P. "The financing from IBM will be used to create a new technology and communication platform to conduct e-commerce with suppliers, improve supply chain efficiencies and develop merchandising solutions aimed at improving customer services and increasing sales."

For further information on IBM Global Financing's Flexible Enterprise Financing program, please contact an IBM or IBM Business Partner representative or visit IBM Global Financing Web site at http://www-1.ibm.com/financing/webprod.nsf/ID/7100ac.

Contact(s) information

Robert Braun
IBM Global Financing
(914) 765-6560
rbraun@us.ibm.com

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