SOURCE: IBM

June 19, 2008 10:00 ET

IBM Extends Outsourcing Services Agreement

STOCKHOLM, SWEDEN--(Marketwire - June 19, 2008) - IBM (NYSE: IBM) today announced it has signed a global five-year IT Services contract with Ericsson. IBM will manage application maintenance, development and operation for Ericsson, extending an existing contract signed in 2003.

"During the last five years IBM has delivered IT services to Ericsson and we are delighted to continue this relationship and to further strengthen our position in the outsourcing market," says Lars Stanghed, Managing Director to the Global Client Ericsson and Chairman of IBM Sweden.

The new agreement was signed on June 19, 2008.

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