FOR IMMEDIATE RELEASE: June 2, 2008 

Labaton Sucharow LLP Settles Securities Class Action Against IBM for $20 Million

NEW YORK (June 2, 2008) - Labaton Sucharow LLP, Klafter & Olsen LLP and IBM announce that they have received preliminary approval for an agreement to settle the securities class action titled In re IBM Securities Litigation, No. 1:05-cv-6279 (AKH) (S.D.N.Y.), for $20 million in cash.

The settlement is subject to final Court approval. The settlement will resolve claims brought on behalf of the class of persons who purchased IBM’s common stock between April 5, 2005 and April 14, 2005.

In this litigation, the plaintiffs alleged that members of the class were damaged by misrepresentations and omissions in IBM’s April 5, 2005 announcement that it would begin stock option expensing in the first quarter of 2005. Specifically, the plaintiffs alleged that IBM misled investors as to its expected financial results and the anticipated size of its stock option expense for the quarter. IBM disputes that it made any misrepresentations to investors, and denies all allegations of wrongdoing.

Labaton Sucharow LLP, with offices in New York, New York and Wilmington, Delaware, is one of the country’s premier law firms representing institutional investors in class action and complex securities litigation, as well as consumers and businesses in class actions seeking to recover damages for anticompetitive practices. The Firm has been a champion of investor and consumer rights for over 45 years, seeking recovery of current losses and necessary governance reforms to protect investors and consumers. Labaton Sucharow has been recognized for its excellence by the courts and its peers. More information about Labaton Sucharow is available at www.labaton.com.

CONTACT:

Stacey Szluka
212-907-0664