**J.S. RELINGHUYSEN CORPORATION**
40 VESEY STREET
NEW YORK, N.Y. 10007
INSURANCE

January 18, 1973

Mr. Albin Hojak, Casualty Manager
American Home Assurance Co.
102 Maiden Lane
New York, N.Y. 10005

Re: International Business Machines Corp.
Umbrella #CC 2691929
Service Bureau Corp.

Dear Al:

Confirming our telephone conversation today, we appreciate your willingness to extend the captioned policy for the interest of Service Bureau Corp. during an interim period of approximately two weeks. As discussed, IBM has sold this subsidiary effective January 12, 1973 and we have a waiting period until such time as the new owner's insurance is confirmed as applicable to their interest. We have confirmed that the underlying umbrella in the amount of $1,000,000, as provided by U.S. Fire Insurance Co., Policy #DCL-910384 is concurrently in effect for Service Bureau Corp. IBM intends to notify immediately as to the cutoff date.

Very truly yours,

J. S. FPELINGHUYSEN CORP.

wlb/ns

bcc: Miss Dolores Warnecke.