**TELEX NO. 94-0164**

**May 28, 1970**

**Mr. Greiner**
**Johnson & Higgins**
**63 Wall Street**
**New York, N. Y. 10005**

**Re: International Business Machines Excess Umbrella**

Dear Mr. Greiner:

This confirms that we are binding effective May 21, 1970 $1,000,000 x/s $140,000,000. We understand that errors and omissions coverage is not involved and that you are going to forward full details through Brown & Hawley.

Very truly yours,

N. B. Smith
Casualty Underwriting Manager

NBS/eh