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IBM Global Financing Offers Deferred Payment Program:

No Payments until January 2000 on Select IBM Products

NORTH CASTLE, New York - 04 Aug 1999: . . . IBM Global Financing announced today a special program in which qualified customers can defer payments when they lease or finance select IBM products installed during the remainder of 1999 for both new customer acceptances and upgrades.

IBM Global Financing's "Millennium Bridge Deferral" program gives North American customers a payment deferral for up to 150 days when they lease or finance a new IBM AS/400, RS/6000 or point of sale system, or equipment from IBM's Networking Hardware, Printing Systems or Storage Systems Divisions. Designed to allow customers the flexibility to install and implement new technology without impact to their 1999 budgets, the offering employs a sliding payment deferral of one to five months depending on when the installation takes place. Customers who take advantage of the program early on will benefit the most by having the longest deferral period. In addition, IBM Global Financing's Preferred Rate Financing, with rates beginning at 6.9 percent APR, will remain in effect giving customers a double benefit.

"The Millennium Bridge is geared to help customers update their technology and immediately implement critical initiatives such as e-business solutions without being held back by year-end budget constraints," said Chris Whelan, Director of Customer Financing, Americas for IBM Global Financing. "Many companies tend to spend a high percentage of their IT budget during the first half of the year, and when they need to implement a new business application during the second half, they lack the necessary funds. This new deferral program helps eliminate that issue and gives customers the flexibility they need to manage their technology in real-time."

The Millennium Bridge is available through an IBM representative or Business Partner, or for more information, send an email to igfinfo@us.ibm.com. IBM Global Financing's Preferred Rate Financing is available for most IBM products that are not eligible for this deferral program.

IBM Credit Corporation in the United States is part of the worldwide IBM Global Financing organization. IBM Global Financing, the largest IT financier in the world, offers businesses of all sizes leasing and financing solutions for hardware, software and services acquired from IBM and IBM Business Partners. Serving customers in more than 42 countries, IBM Global Financing also provides flexible commercial financing offerings for inventory, accounts receivable and acquisition financing. For more information, visit the IBM Global Financing home page at http://www.financing.ibm.com.

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Some restrictions may apply to special bid customers.

IBM AS/400 and RS/6000 are trademarks or registered trademarks of International Business Machines Corp.

Enterprise Storage Server models E10 and E20 qualify separately under the worldwide enterprise storage server deferred payment program announced with the product offering on July 27, 1999.

Contact(s) information

Carol J. Blaszczynski
IBM
914-765-6647
blaszcar@us.ibm.com

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