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IBM Board Approves 8% Increase of Regular Quarterly Cash Dividend

Authorizes Additional $3.5 Billion for Share Buybacks

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CLEVELAND - 25 Apr 2000: -- The IBM Board of Directors today declared a regular quarterly cash dividend of $.13 per common share, payable June 10, 2000 to stockholders of record May 10, 2000. Today's dividend declaration represents an increase of $.01 or 8 percent versus the prior quarterly dividend of $.12 per common share. IBM has increased the quarterly dividend five times since 1996, representing a total increase of more than 100 percent.

The IBM board also authorized up to $3.5 billion in additional funds for use in its share repurchase program. IBM said it will repurchase shares on the open market from time to time, depending on market conditions.

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