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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (7481)	10/16/2002 4:59:46 PM
From: Jorj X Mckie	Respond to of 57110

16:52 ET IBM IBM lowering pension plan rate of return assumptions (64.90 -3.58) -- Update -- On call, says it is lowering its rate of return assumptions for its pension plan in 2003 to 8.0-8.5% (from 9.5% in 2002)... notes that this assumption will affect income statement by roughly $700 mln, but impact will be offset by $900 mln in cost savings... says its working assumption is that it will contribute as much as $1.5 bln to the U.S. pension plan with intention of having it fully funded by 2005... IBM +2.10 at 67.00