IBM Board Approves Increase of Regular Quarterly C

IBM Board Approves Increase of Regular Quarterly Cash Dividend 

    KANSAS CITY, Mo.--(BUSINESS WIRE)--April 29, 2003--

The IBM Board of Directors today declared a regular quarterly cash
dividend of $.16 per common share, payable June 10, 2003 to
stockholders of record May 9, 2003. Today's dividend declaration
represents an increase of $.01 or almost 7 percent versus the prior
quarterly dividend of $.15 per common share.

IBM has increased the quarterly dividend eight times since 1996,
representing a total increase of 156 percent.

   Short Name: Intnl Bus. Mach
   Category Code: DIV
   Sequence Number: 00004387
   Time of Receipt (offset from UTC): 20030429T150232+0100