IBM investor services program : Selling shares

You may sell Investor Services Program shares held in book entry on the records of the Program Administrator by calling Computershare at 888-IBM-6700 or 781-575-2727, or by sending notification to Computershare. Notice may be sent via letter to Computershare, c/o IBM Investor Services Program, P.O. Box 43072, Providence, RI 02940-3072. You may also send notice via fax to 201-222-4488.

You may directly access your account and request a sale of your Investor Services Program book entry shares through the internet by going to www.ibm.com/investor. Select "Stockholder account access -> Registered stockholder access".

You may instruct Computershare to sell any or all of the shares held in the Program. The instructions to the Program Administrator (Computershare) should include the number of shares that are to be sold. The Program Administrator will make every effort to process your order on the day it is received, provided that instructions are received before 1:00 p.m. Eastern time on a business day during which Computershare and the relevant securities market are open. The proceeds of the sale, less a fee of $15 and a brokerage commission of 10 cents per share, will be sent to you on the settlement date which is three business days from the date of sale.