Buyback over last year: IBM bought back more than 97 million shares for $8.1 billion (approximately $83.50 per share). IBM had approximately $5 billion remaining from its Board authorizations at the end of December. IBM has bought back over 1.2 billion shares on a split-adjusted basis, at an average price of about $62 per share since the inception of our share repurchase program in 1995. Yr Shrs outstanding 2006 1,553.54 2005 1,627.63 2004 1,707.23 2003 1,756.09 2002 1,730.94

During the year ended September 30, 2006, the Company repurchased 243 million shares for $6.9 billion (approximately $28.40 per share). As of September 30, 2006, the Company had authorization in place to repurchase approximately 206 million additional shares. Yr Shrs outstanding 2006 2,076.0 2005 2,089.0 2004 2,106.0 2003 2,067.0 2002 2,044.0

The firm repurchased 50.2 million shares of its common stock at an average price of $155.64 per share, at a total cost of $7.82 billion during 2006, including 20.8 million shares of its common stock at an average price of $175.82 per share, at a total cost of $3.65 billion in the fourth quarter. The remaining share authorization under the firm’s existing common stock repurchase program is 52.6 million shares. Yr Shrs outstanding 2006 477.4 2005 500.2 2004 510.5 2003 511.9 2002 525.1

As announced in October 2006, the Board of Directors approved a new $3 billion share repurchase program. This program is expected to commence upon the completion of our current $4 billion program during the fourth quarter of 2006 and will be completed by March 31, 2008. By the end of 2006 we will have completed seven share repurchase programs totaling $12.8 billion for an estimated 325 million shares (or approximately $39.38 per share). Yr Shrs outstanding 2006 637.2 2005 667.3 2004 700.3 2003 706.2 2002 709.9

During the past four quarters, the company used $5.04 billion to repurchase 163 million shares ($30.92 per share), reducing shares outstanding by more than 8 percent. On January 23, 2006, the board of directors authorized repurchases of up to $5 billion of TXN common stock. This authorization is in addition to previously announced stock repurchase authorizations. Yr Shrs outstanding 2006 1,560.0 2005 1,671.0 2004 1,768.0 2003 1,766.4 2002 1,733.34

Harley Davidson repurchased 19.3 million shares of its common stock during 2006 at a cost of $1.06 billion (or $54.92 per share on average). Yr Shrs outstanding 2006 265.27 2005 281.04 2004 296.85 2003 304.47 2002 305.16

During fiscal 2005, the Board of Directors authorized a share repurchase program for up to 30 million shares of common stock (the 2005 Repurchase Program). As of May 11, 2005, all of these shares were repurchased, completing the program. In May 2005, our Board of Directors authorized a share repurchase program for up to 25 million shares of common stock (the 2006 Repurchase Program). As of February 27, 2006 all of these shares were repurchased. On May 18, 2006 our Board of Directors authorized a new share repurchase program for up to an additional 25 million shares of our common stock. The authorization became effective immediately and has no set expiration date. We expect to make the repurchases from time to time on the open market, depending on market conditions. As of June 9, 2006, 900,000 shares have been repurchased and we continue to have authority to purchase up to an additional 24,100,000 shares under this new program. Yr Shrs outstanding 2006 340.32 2005 372.09 2004 376.78 2003 373.7 2002 370.48

In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of October 28, 2006, the Company’s Board of Directors had authorized an aggregate repurchase of up to $40 billion of common stock under this program. During the three months ended October 28, 2006, the Company repurchased and retired 66 million shares of Cisco common stock at an average price of $22.85 per share for an aggregate purchase price of $1.5 billion. As of October 28, 2006, the Company had repurchased and retired 2.0 billion shares of Cisco common stock at an average price of $18.51 per share for an aggregate purchase price of $36.9 billion since inception of the stock repurchase program and the remaining authorized amount for stock repurchases under this program was $3.1 billion with no termination date. In addition, on November 15, 2006, the Company’s Board of Directors authorized the repurchase of up to an additional $7 billion of the Company’s common stock with no termination date. Yr Shrs outstanding 2006 6,272.0 2005 6,612.0 2004 7,057.0 2003 7,223.0 2002 7,447.0