IBM Teams with AT&T and Lycos to Pilot Internet Appliance, Content and Services to Fidelity Investments® Customers

First Trial Using New Portable Appliance Enables Fidelity to Feed Customers Content and Access for At-home Trading and Surfing

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SOMERS, NY - 23 Feb 2000: -- IBM announced today it is working with AT&T and Lycos to deliver a new broadband-enabled Internet appliance and services to Fidelity Investments customers. End-users will enjoy the benefits of convenient investment planning tools, customized content, online trading, web surfing, emailing and other services 24-hours a day, seven days a week -- from home.

Offered to a full-range of Fidelity customers in the second quarter, from new investors to sophisticated traders, users will have easy, high speed access to and Fidelity's Powerstreet, the company's new online trading site. Fidelity Investments plans to integrate relevant content and specific services, including portal content from Lycos using the Internet appliance. As part of the pilot, Fidelity is scheduled to test new portfolio planning and monitoring tools as well as a new bill payment service and a variety of tax planning features.

IBM, for the first time, plans to pilot its newly announced portable Internet appliance and managed services, such as device maintenance and custom content delivery, with high speed broadband access from AT&T, and customized Web content from Lycos.

"We are delighted that Fidelity customers will be the first to pilot this exciting new Internet appliance and service," said Tracey Curvey, executive vice president, Fidelity Online Brokerage. "Using the IBM Internet appliance, our customers will be able to take full advantage of the personalization of Powerstreet and all of the resources of in a way that's easy, quick and convenient for their lifestyles. It fits perfectly with our commitment to providing our customers with access to Fidelity however, wherever and whenever they want."

"IBM is aggressively expanding its range of PCs and Internet appliances, as well as the way we sell them," said David Thomas, senior vice president and general manager, IBM Personal Systems Group. "This new business-to-business-to-customer model leverages our partnerships and our strengths in e-business to deliver the best Internet experience possible."

AT&T Provides Broadband Service
For this market trial, AT&T will provide broadband access via its Digital Subscriber Line service. Available in speeds ranging from 128Kbps to 768Kbps, the single-user service is currently available in over 50 markets and by year end 2000 will be available in over 100 markets.

"The need for speed - especially in Fidelity's market segment - makes broadband access a critical element for this service," said Kathleen Earley, president, AT&T Data and Internet Services. "Leveraging AT&T's broadband assets for IBM's edge of the network initiative demonstrates the ongoing efforts of both companies to provide businesses with world class e-business solutions."

Lycos Delivers Fidelity Broad Content and Services
For this pilot, Lycos will provide Web content and customization services to Fidelity Investments and its customers. Through an existing relationship, Lycos powers Fidelity's customizable start page, My Fidelity(sm), which allows investors to gain access to Fidelity trading resources, planning tools and information, as well as Lycos tools, customization capabilities and content through one integrated, Web-based financial resource. Additionally, Lycos expects to broaden the relationship with IBM by offering its broad Web content and specific services, including the customized My Lycos start page to customers in key market segments. Target markets include travel, sports, education, music and small/medium business.

"IBM is backed by superior technology and vision to make pervasive computing become reality," said Jeff Bennett, senior vice president of corporate development at Lycos. "Lycos is pleased to be working with IBM to provide rich content to such a broad spectrum of end-users."

Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, but not limited to, dependence on the PC and consumer electronics industries and on product lines based on new technologies; foundry capacity, availability and reliability; competition and pricing pressures; and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.