**THIS ENDORSEMENT EFFECTIVE MAY 21, 1991**

**FORMS PART OF POLICY NUMBER 531-204473-7**

**ISSUED TO INTERNATIONAL BUSINESS MACHINES CORP.**

**(AS PER UNDERLYING INSURANCE)**

**BY INTERNATIONAL INSURANCE COMPANY**

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

**ABSOLUTE ASBESTOS LIABILITY EXCLUSION**

**THIS INSURANCE DOES NOT APPLY TO ANY LIABILITY, BY, RESULTING FROM, OR ARISING OUT OF:**

1. **ASBESTOS, ASBESTOS FIBERS OR ASBESTOS PRODUCTS OR TO ANY OBLIGATION OF ANY "INSURED" TO PAY ANY OTHER AND/OR CONTRIBUTE WITH ANOTHER BECAUSE DAMAGES ARISING OUT OF ASBESTOS, ASBESTOS FIBERS OR ASBESTOS PRODUCTS.**

2. **ANY SUPERVISION, INSTRUCTION, WARNINGS OR NOTICES, NOTICES, WARNINGS OR ADVICE THAT HAVE BEEN GIVEN IN CONNECTION WITH THE USE OF ASBESTOS PRODUCTS.**

**IN ADDITION, THE COMPANY WILL NOT INVESTIGATE, TO PAY ANY CLAIM OR JUDGMENT, SETTLEMENT AND ANY SUIT FOR BODILY INJURY, PERSONAL INJURY OR PROPERTY DAMAGE, BY, RESULTING FROM, ARISING OUT OF ASBESTOS, ASBESTOS FIBERS OR ASBESTOS PRODUCTS.**

**ENDORSEMENT NO. 1**

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