IBM Announces Completion of Lotus Tender Offer

ARMONK, N.Y., July 5, 1995 . . . IBM today announced that it successfully
completed its tender offer to acquire the common stock of Lotus
Development Corporation at $64 per share. Approximately 97 percent of the
47.4 million outstanding Lotus shares have been accepted for payment by an
IBM subsidiary following completion of the tender offer on July 3.

Any Lotus shares not purchased in the tender offer will be acquired by a
subsidiary of IBM when the merger is completed, which is expected to be
today.
 
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