EMPLOYERS LIABILITY $ 100,000

AIRCRAFT LIABILITY 10,000,000

AIRPORT LIABILITY - FRANCE 2,000,000

C. EACH OCCURRENCE NOT COVERED BY ABOVE POLICIES 25,000 SELF- INSURED

D. IBM WORLD TRADE CORP. - CANADA (SEPARATE UMBRELLA CONTRACT)

PRODUCTS LIABILITY INCLUDED IN IBM CGL POLICY 500/1,000,000 BI 100,000 PD

COMPREHENSIVE GENERAL (INCL. AUTO, NON- OWNERSHIP) LIABILITY IN NAME OF IBM CO. LTD. CANADA 1,000,000 BI 1,000,000 PD

AUTOMOBILE LIABILITY IN NAME OF IBM CO. LTD. CANADA. 1,000,000

EACH OCCURRENCE NOT COVERED BY ABOVE POLICIES 25,000 SELF- INSURED

2. UMBRELLA LIABILITY POLICY $1,000,000 IN RESPECT OF SERVICE BUREAU CORP.

EXCESS OF

COMPREHENSIVE GENERAL & AUTOMOBILE LIABILITY 500/1,000,000 BI 100,000 PD

ADVERTISERS LIABILITY 750,000

EMPLOYERS LIABILITY 100,000

BOILER LIABILITY 100,000 PD

AIRCRAFT NON-OWNERSHIP LIABILITY 10,000,000

EACH OCCURRENCE NOT COVERED BY ABOVE POLICIES 25,000 SELF- INSURED

3. IBM WORLD TRADE CORP. - FOREIGN

ADVERTISERS LIABILITY 500,000

AIRCRAFT NON-OWNERSHIP LIABILITY - HTC SUBSIDIARY COS. 25,000

COMBINED COMPREHENSIVE GENERAL & AUTO LIABILITY 250,000

EXCESS OF

A. COMPREHENSIVE GENERAL & AUTO- MOBILE LIABILITY - SAUDI ARABIA $250/1,000,000 BI. 250/1,000,000 PD. 100,000 AUTO PD

B. COMPREHENSIVE GENERAL & AUTO- MOBILE LIABILITY - INDONESIA 300/300,000 BI. 300,000 PD.