IBM announced today that it has repurchased $12.5 billion of its outstanding common stock through accelerated share repurchase agreements (ASR). Under the agreements, the company repurchased 118.8 million shares, or 8 percent of the outstanding shares of common stock as of May 29, from three banks for an initial price of $105.18 per share. These repurchased shares will be classified as treasury shares. The banks are expected to purchase an equivalent number of shares in the open market during the next nine months. The initial price of the ASR is subject to an adjustment based on the volume weighted average price of the shares during this period. IBM does not plan to make any additional stock repurchases during this period. The stock symbol for International Business Machines Corporation common stock is IBM and the cusip number is 459200-10-1. IBM common stock is listed on the New York Stock Exchange, the Chicago Stock Exchange, and outside the United States. The par value of IBM is twenty cents per share. At year-end 2006, there were 613,993 registered owners of IBM stock. Another 1,600,000 stockholders own IBM stock through brokerage houses, banks, credit unions, and other financial institutions.