# EXHIBIT II

## PARENTS AND SUBSIDIARIES—(continued)

| State or country of incorporation or organization | Percentage of voting securities owned by its immediate parent |
|---|---|
| IBM World Trade Europe/Middle East/Africa Corporation (Continued) |  |
| IBM Danmark A/S | Denmark | 100 |
| IBM Danmark-Produkt Distribution Selskab A/S | Denmark | 100 |
| Oy International Business Machines Ab | Finland | 100 |
| IBM—Tuotteiden Jakelu Oy | Finland | 100 |
| Compagnie IBM France, S.A. | France | 100 (B) |
| IBM France Diffusion, S.A. | France | 100 (B) |
| IBM France Financement, S.A. | France | 100 (B)(F) |
| Cie IBM Madagascar, S.A. | Madagascar | 100 (B) |
| IBM Eurocoordination, S.A. | France | — (C) |
| IBM Area South, S.A. | France | 100 (B) |
| IBM Europe, S.A. | France | 100 (B) |
| IBM Trade Development, S.A. | France | 100 (B) |
| IBM Deutschland GmbH | Germany (Federal Republic of) | 90 (D) |
| IBM Deutschland Kreditbank GmbH | Germany (Federal Republic of) | 100 (F) |
| IBM Deutschland Produktvertrieb GmbH | Germany (Federal Republic of) | 100 |
| IBM Sondersysteme GmbH | Germany (Federal Republic of) | 100 |
| IBM Ireland Ltd. | Ireland | 100 (B) |
| IBM Ireland Financial Services Ltd. | Ireland | 100 (B)(F) |
| IBM Ireland Information Services Ltd. | Ireland | 100 (B) |
| IBM Ireland Product Distribution Ltd. | Ireland | 100 (B) |
| IBM Israel Ltd. | Israel | 100 (B) |
| IBM Israel-Product Distribution Ltd. | Israel | 100 (B) |
| IBM Italia S.p.A. | Italy | 100 (B) |
| IBM Italia Distribuzione Prodotti S.p.A. | Italy | 100 |
| IBM Nederland N.V. | Netherlands | 100 |
| IBM Nederland Financieringen B.V. | Netherlands | 100 (F) |
| IBM Nederland Produkt Distributie B.V. | Netherlands | 100 |
| International Business Machines A/S | Norway | 100 |
| IBM Norge Produkt Distribusjon A/S | Norway | 100 |
| Companhia IBM Portuguesa, S.A.R.L. | Portugal | 100 (B) |
| International Business Machines South Africa (Proprietary) Ltd. | South Africa (Republic of) | 100 |
| IBM South Africa Product Distribution (Proprietary) Ltd. | South Africa (Republic of) | 100 |
| International Business Machines, S.A.E. | Spain | 100 |
| IBM Espana Distribuidora de Productos, S.A. | Spain | 100 |
| Leasing Informatica, S.A. | Spain | 100 (F) |
| IBM Svenska Aktiebolag | Sweden | 100 |
| IBM Finans Aktiebolag | Sweden | 100 (F) |
| IBM Svenska Produkt Distribution Aktiebolag | Sweden | 100 |