**Metropolitan Reinsurance Company**

125 Maiden Lane, Suite 1200, New York, NY 10038  
Telephone: (212) 785-8450  
Telex: 640862

**FACULTATIVE CASUALTY REINSURANCE**

ATTN: TCM CIARDELLI  
LEXINGTON INSURANCE COMPANY  
TO: 100 SUMMER STREET  
BOSTON MA 02110  
16 SEP 1986  

POLICY NO: 552 8820  
CERT NO: FC09222  
YOUR REF NO:

R/I: LEXINGTON INSURANCE COMPANY  
A/C: INTERNATIONAL BUSINESS MACHINES  

ENCLOSED PLEASE FIND TWO COPIES  
OF THE CAPTIONED CERTIFICATE.

PLEASE FORWARD LETTER FROM CEDE WNKORL TO 6/23/86  
PLEASE FORWARD ENDORSEMENT TO CEDE'S POLICY  
FOLLOWING FORM FOREIGN LIA. PLEASE REQUEST COPY  
OF UNDERLYING POLICY AND FORWARD COPY TO US WHEN  
YOU RECEIVE.

REGARDS,

MRC-16 (9/83)  
N C 09/15/86 10