# NAMED INSURED

IT IS AGREED THAT THE NAMED INSURED IS TO READ AS FOLLOWS:

INTERNATIONAL BUSINESS MACHINES CORPORATION, I.B.M. WORLD TRADE CORPORATION, IBM WORLD TRADE EUROPE/MIDDLE EAST/AFRICA CORPORATION AND IBM WORLD TRADE AMERICAS/FAR EAST CORPORATION AND SCIENCE RESEARCH ASSOCIATES, INC. AND ANY OTHER SUBSIDIARY OR AFFILIATED CORPORATION PROVIDED SUCH OTHER SUBSIDIARY OR AFFILIATED CORPORATION WARRANTS THAT IT IS UNDER THE SAME OPERATIVE AND FINANCIAL CONTROL THROUGH THE IDENTITY OF ITS OFFICERS, DIRECTORS OR STOCKHOLDERS AND ANY EMPLOYEE ASSOCIATIONS THEREOF.

IT IS ALSO AGREED THAT THE FOLLOWING JOINT VENTURES ARE INCLUDED AS NAMED INSUREDS, BUT ONLY AS RESPECTS THE INTEREST OF INTERNATIONAL BUSINESS MACHINES CORPORATION:

1. MARKET STREET ASSOCIATES OF ST. LOUIS
2. DISCOVISION ASSOCIATES
3. SATELLITE BUSINESS SYSTEMS
4. 425 MARKET STREET ASSOCIATES (SAN FRANCISCO)
5. 2345 GRAND AVENUE KANSAS CITY CONDOMINIUM

This endorsement, issued by one of the below named companies, forms a part of the policy to which attached effective on the inception date of the policy unless otherwise stated herein.

(The information below is required only when this endorsement is used subsequent to preparation of policy)

| Endorsement effective | Policy No. | Endorsement No. |
|----------------------|------------|-----------------|
| Named Insured         |            |                 |
| Return Premium $     | In Advance $ | 1st Annv $      |
| Additional Premium $ | 2nd Annv $  |                |

SPECIAL NO. 7

The Elms Casualty and Surety Company
The Standard Fire Insurance Company
Hartford, Connecticut

Countersigned by
[Signature]
(Authorized Representative)

CAT. 2800J
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