IBM Briefs Investors On "E-business On Demand" Strategy

Comments on 2003 Expectations

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ARMONK, N.Y. - 13 Nov 2002: IBM today held a briefing for investors at which the company provided perspective on its recently announced "e-business on demand" strategy. The company described how "on demand" is being implemented across the company, with emphasis on certain business units and operations. IBM also outlined how it is going to market and working with enterprise customers to help them become on demand businesses.

During the briefing, John R. Joyce, senior vice president and chief financial officer, provided the following comment on 2003: "Analysts' current average for revenue expects to see IBM get back to some growth next year. In light of current GDP estimates, we think this is a reasonable objective. And, based on this revenue growth, and coupled with all that we have discussed today, the Street's average estimate for growth in earnings per share for 2003 is also reasonable."

The meeting materials will be available on

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