July 14, 2008 09:30 ET

IBM Secures Services Agreement With Australian Government

ARMONK, NY--(Marketwire - July 14, 2008) - IBM (NYSE: IBM) today announced that IBM Australia Limited has been selected by the Australian Government to support its Standard Business Reporting (SBR) initiative, which aims to reduce the reporting burden for business. As part of the initial design phase, IBM will provide architectural and design services under a contract valued at approximately AU$10 million.

During the project, IBM will leverage its global expertise to provide a range of architectural design and program management skills for the development of a detailed design for a system that will enable businesses to electronically interact with Government through a range of software and accounting packages.

IBM's partnership with the Australian Government aims to deliver a more efficient reporting mechanism -- it will be faster, cheaper and easier for businesses and their intermediaries to prepare and file their reports, while Government departments will be faced with fewer errors and faster processing times.

The contract was signed during the second quarter of 2008.

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