INTERBOLD DISSOLVES INTERNATIONAL DISTRIBUTION AGREEMENT WITH IBM NORTH CANTON, Ohio, June 30 1997/ MediaNet Internatioinal/AsiaNet/ -- Interbold, a seven year old joint venture between Diebold, Incorporated (NYSE:DBD) and International Business Machines Corp. (NYSE:IBM) to develope and market automated teller machines (ATMs), announced today that it will discontinue its international marketing and distribution agreement with IBM. Under the original terms of the agreement, IBM had exclusive distribution rights to InterBold products in many regions outside the United States, with Diebold marketing Interbold products in the United States and managing distribuiton in other select international markets. Diebold is the exclusive manufacturer of Interbold ATMs. "The original purpose of the Interbold joint venture was to match Diebold's outstanding self-service technology with IBM's global distribution systems," said Gregg A. Searle, chairman of Interbold's Governing Committee and President and chief operating officer of Diebold, which owns 70 percent of the joint venture. "However, in the years since, Diebold has emerged as an international leader in providing self-service solutions and has developeed a critical mass in international sales and distribution capabilities. We believe Diebold is now positioned to leverage the Interbold ATM product line by marketing directly to customers worldwide." Customers should not be impacted, as terms of the joint venture agreement provide for an 18-month transitional period for changes in distribution and marketing responsibilities. "It is Diebold's desire to pursue improved operating profits and growth opportunities by streamlining our distribution channels," Searle said. "The international strategic initiatives Diebold has made, independent of the joint venture, provide company with a solid foundatiion of global resources from which to grow worldwide sales, service and support." In time since the joint venture was initiated, Diebold has greatly expanded its own sales and marketing resources in Europe, Asia, the Pacific Rim and Central and South America. Diebold has created joint ventures in China, India and Venezuela; acquired subsidairies in Canada, Australia,and Mexico; expanded operational centers in Singapore and the United Kingdom; and set up distributorships in areas such as the Middle East and South America. Diebold has more than doubled its overall corporate revenues since 1991, surpassing marketplace," said Serle, "We are committed to providing the highest level of service and support to our customers and expanding our existing network of resources." For more information John Kristoff +1 330 490 3782 [email protected]