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AbsoluteSKY and IBM Link Up to Provide Financing Options for RFID Customers


MONTREAL - 18 Sep 2006: IBM Global Financing, the lending division of IBM (NYSE: IBM) and the world's largest IT financier, announced today that it has signed a deal with the Canadian subsidiary of AbsoluteSKY, Inc. (PINKSHEETS: ABSY), to provide financing options to end-users of AbsoluteSKY's proprietary intelliTRACKER™ inventory tracking product suite. The financing packages include hardware, software, services and maintenance.

AbsoluteSKY's intelliTRACKER™ product suite is an RFID-based hardware and software solution set that integrates multiple technologies to provide retailers with real-time, item-level inventory tracking through the supply chain. The intelliTRACKER™ suite delivers extensive features and benefits to specialty retailers, including the ability to increase inventory turns, virtually eliminate missed sales and gain extensive real-time control over loss prevention.

John Frabasile, President and CEO of AbsoluteSKY, remarked, "The signing of this agreement substantially builds our value-proposition for specialty retail clients. IBM has a pre-eminent presence and track record in financing retail customers on a global scale. Working closely with IBM, we can simplify and tailor the entire financing process while providing a range of attractive, affordable financing options. No question, it will also shorten the sales cycle dramatically."

"IBM looks forward to expanding its work with AbsoluteSKY to provide a broader set of flexible financing solutions to its customers," said Riccardo Forlenza, VP of vendor financing for IBM Global Financing. "By offering our expertise in financing total retail solutions -- hardware, software and services -- AbsoluteSKY can help retailers take advantage of RFID technology that grows business."

The agreement forms an important element of AbsoluteSKY's go-to-market business model, providing the retailer the ability to track costs on a "by store per month" basis. Retailers also receive a comprehensive ROI analysis, which calculates the benefits and savings by store per month for comparison to the store's per month leasing cost. The model demonstrates a rapid ROI, typically during the first quarter, post installation, chain wide.

Contact(s) information

Fred Clarke
IBM Global Financing
Office Phone: 914-765-6700 Cell Phone: 914-715-5986
fredc@us.ibm.com

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Global Financing
Hardware leasing, software and services financing, commercial financing, inventory, accounts receivable, term loans, acquisition financing