Target Awards IBM Contract for On Demand IT Infrastructure

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ARMONK, N.Y. - 31 Dec 2003: Leading retailer Target awarded IBM a 10-year contract to manage the merchant's mainframe IT infrastructure, IBM announced today. The agreement establishes a variable, on demand pricing model under which Target will pay only for the IT services it uses.

"Our long-term relationship with IBM has given Target the kind of IT flexibility that enables us to execute our strategies with speed and success," said Jerry Storch, Vice Chairman Target Corporation. "Implementing IBM's on demand initiative reflects Target's commitment to leveraging technology that drives business results."

"One of the world's premier retailers, Target has built tremendous customer loyalty and a powerful shopping experience," said Barry Mason, IBM's managing director of the Target account. "As we expand upon our successful relationship, IBM is committed to delivering the kind of technology leadership and service excellence that will help take Target into the future."

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