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IBM: Watchtower Extends the Acceptance Period in Relation to the Recommended Cash Offer to the Shareholders in Telelogic


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STOCKHOLM, Sweden - 05 Dec 2007: This Offer is not being made nor will any tender of shares be accepted from or on behalf of holders in any jurisdiction in which the making of the Offer or the acceptance of any tender of shares therein would not be made in compliance with laws of such jurisdiction. The Offer is not being made, directly or indirectly, in or into Australia, Canada, Japan or South Africa. The Offer is being treated in the United States as one to which the “Tier II” exemption mentioned in Rule 14d-1(d) under the U.S. Securities Exchange Act of 1934 is applicable. The press release has been published in Swedish and English. In the event that there are any differences between the language versions, the Swedish version shall prevail.

International Business Machines Corporation (“IBM”), through its indirect wholly-owned subsidiary Watchtower AB (“Watchtower”) (previously Goldcup D 2933 AB), a Swedish private limited liability company, announced on June 11, 2007 a recommended public cash offer to the holders of all issued and outstanding shares in Telelogic AB (publ) (“Telelogic”), to tender all Telelogic shares to Watchtower (the “Offer”). The Offer has been unanimously recommended by the Board of Directors of Telelogic.

Watchtower has decided to extend the acceptance period until 17.00 (CET) on February 14, 2008. Provided that Watchtower announces that the conditions of the Offer have been satisfied or waived on February 20, 2008, settlement is expected to commence approximately one week thereafter.

Competition clearance of the Offer is subject to review by the European Commission. The review procedure was suspended on November 15, 2007 and resumed on December 3, 2007 following delivery of further information requested by the Commission. Watchtower will continue to work constructively with the European Commission to assist them in their investigation and remains positive with regards to obtaining clearance of the Offer.

All other terms and conditions set out in the offer document apply during the extended acceptance period.

The offer document in a Swedish and an English version and other information about the Offer is published on www.ibm.com/software/rational/welcome/telelogic/, on www.telelogic.com and on www.nordea.se/placera.

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