European Commission Approves IBM Acquisition of Telelogic

03/05/2008

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International Business Machines Corporation (“IBM”), through its indirect wholly-owned subsidiary Watchtower AB (“Watchtower”) (previously Goldcup D 2933 AB), a Swedish private limited liability company, announced on June 11, 2007 a recommended public cash offer to the holders of all issued and outstanding shares in Telelogic AB (publ) (“Telelogic”), to tender all Telelogic shares to Watchtower (the “Offer”). The Offer has been unanimously recommended by the Board of Directors of Telelogic.

The completion of the Offer is subject to fulfillment of the conditions set out in the offer document, including receipt of all necessary clearances, approvals and decisions from relevant competition authorities. Watchtower is pleased to confirm that it has today been informed of the European Commission’s decision, dated March 5, 2008, to approve the acquisition. The antitrust review process in the United States was successfully completed on October 2, 2007. No other antitrust clearances are required. Therefore, the condition regarding receipt of all necessary clearances, approvals and decisions from competition authorities has been fulfilled.

As previously announced, the extended acceptance period under the Offer will expire on 17.00 (CET) on March 19, 2008. Provided that Watchtower announces that the conditions of the Offer have been satisfied or waived on March 27, 2008, settlement is expected to commence approximately one week thereafter.

All other terms and conditions set out in the offer document, including conditions for completion of the Offer, continue to apply.

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