Banco Patagonia in $592,000 IT Services Agreement With IBM

Market Wire, April, 2007

Argentina's fifth largest private financial institution Banco Patagonia has signed an information technology services agreement with IBM (NYSE: IBM) for server and application migration.

Under the $592,000 agreement signed in the first quarter, IBM will migrate the bank's Control-M scheduling application to an IBM System p server, upgrade and consolidate server and other hardware, and provide application support services, server monitoring and critical backup services.

Control-M is a production scheduling software application used by financial institutions primarily to manage finance and accounting tasks that must be performed on a daily, weekly, monthly or yearly basis. It also can be used to integrate and schedule other applications, such as SAP, Oracle and Peoplesoft, so that they work together.

Banco Patagonia chose IBM for its knowledge and experience in delivering these services, industry best practices and world-class quality standards.

About Banco Patagonia

Banco Patagonia is a leading financial institution in the Argentinian market, offering a wide range of financial solutions for individuals, businesses including small- and medium-sized companies, private banks and institutional clients.

About IBM Global Services

For further information, visit www.ibm.com/services

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Media Contact: Jay Cadmus 914-765-6089 jcadmus@us.ibm.com