# 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 Switzerland | Switzerland | 100 |
| IBM Switzerland Product Distribution | Switzerland | 100 |
| IBM (International Business Machines) Turk Ltd. Sirketi | Turkey | 100(A) |
| IBM United Kingdom Holdings Ltd. | United Kingdom | 100 |
| International Business Machines Ltd. | United Kingdom | 100 |
| IBM Information Services Ltd. | United Kingdom | 100 |
| IBM United Kingdom Financial Services Ltd. | United Kingdom | 100(F) |
| IBM United Kingdom Asset Finance Ltd. | United Kingdom | 100(F) |
| IBM United Kingdom Credit Ltd. | United Kingdom | 100(F) |
| IBM United Kingdom Finance Ltd. | United Kingdom | 100(F) |
| IBM United Kingdom Leasing Ltd. | United Kingdom | 100(F) |
| IBM United Kingdom International Products Ltd. | United Kingdom | 100 |
| IBM United Kingdom Laboratories Ltd. | United Kingdom | 100 |
| IBM United Kingdom Ltd. | United Kingdom | 100 |
| IBM United Kingdom Pensions Trust Ltd. | United Kingdom | 100 |
| IBM United Kingdom Product Sales Ltd. | United Kingdom | 100 |
| IBM United Kingdom Rentals Ltd. | United Kingdom | 100 |
| IBM World Trade Americas/Far East Corporation | Delaware | 100 |
| IBM Americas/Far East Systems Corporation | Delaware | 100 |
| IBM China Corporation | Delaware | 100 |
| IBM International Corporation | Delaware | 100 |
| IBM World Trade Asia Corporation | Delaware | 100 |
| IBM Argentina, S.A. | Argentina | 100(B) |
| Distribuidora de Productos IBM, S.A. | Argentina | 100(B) |
| IBM Australia Ltd. | Australia | 100 |
| IBM Australia Finance Pty. Ltd. | Australia | 100 |
| IBM Australia Leasing Pty. Ltd. | Australia | 100 |
| IBM Australia Services Pty. Ltd. | Australia | 100 |
| IBM Bahamas Ltd. | Bahamas | 100 |
| IBM Product Distribution (Bahamas) Ltd. | Bahamas | 100 |
| IBM de Bolivia, S.A. | Bolivia | 100 |
| IBM do Brasil-Industria, Maquinas e Servicos Ltda. | Brazil | 100(B) |
| IBM Canada Limited—IBM Canada Limitee | Canada | 100 |
| IBM Canada Product Distribution Incorporated—Distribution de Produits IBM Canada Incorporée | Canada | 100 |
| IBM de Chile S.A.C. | Chile | 100 |
| IBM de Colombia, S.A. | Colombia | 90(F) |
| IBM de Costa Rica, S.A. | Costa Rica | 100(B) |
| IBM del Ecuador, C.A. | Ecuador | 100 |
| IBM de Guatemala, S.A. | Guatemala | 100 |
| IBM de Honduras, S.A. | Honduras | 100(B) |