# ENDORSEMENT # 005

This endorsement, effective 12:01 AM 05/21/92

Forms a part of policy no.: FE 408 0124

Issued to: INTERNATIONAL BUSINESS MACHINES CORP

By: Landmark Ins. Co.

## Securities and Financial Interest Exclusion

In consideration of the premium charged, it is understood and agreed that the Insurer shall have no obligation to defend or indemnify with respect to any claim alleging or asserting in any respect loss, injury or damage in connection with the purchase or sale, the offer, solicitation, or advertising for the purchase or sale, or the depreciation or decline in price or value, of any security, debt, bank deposit, or financial interest or instrument.