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IBM Receives Formal Notice of SEC Investigation

Press release from the issuing company

ARMONK, N.Y.--Jan. 12, 2006-- IBM announced today that it has received notice of a formal, nonpublic investigation by the Securities and Exchange Commission concerning IBM's disclosures relating to IBM's first-quarter 2005 earnings and expensing of equity compensation. As previously disclosed in June 2005, IBM has been cooperating with the SEC in an informal investigation of this matter, and will continue to do so. The SEC has informed IBM that the investigation should not be construed as an indication that any violations of law have occurred.

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