EX-21 5 a2102367zex-21.htm EXHIBIT 21
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EXHIBIT 21

PARENTS AND SUBSIDIARIES
As of December 31, 2002

			State or country of incorporation or organization	Percentage of voting securities owned by its immediate parent
Registrant:
International Business Machines Corporation			New York
Subsidiaries:
IBM Credit Corporation			Delaware	100
Lotus Development Corporation			Delaware	100
Tivoli Systems Inc.			Delaware	100
IBM World Trade Corporation			Delaware	100
	IBM Central and Eastern Europe/ Middle East/Africa, Inc		Delaware	100
	IBM Plans Management Corporation		New York	88	(A)
	IBM World Trade Asia Corporation		Delaware	100
	IBM World Trade Holding LLC		Delaware	100
	WTC Insurance Corporation, Ltd.		Bermuda	100
	IBM Argentina, S.A.		Argentina	100	(A)
	IBM Australia Ltd.		Australia	100
	IBM Bahamas Ltd.		Bahamas	100
	IBM de Bolivia, S.A.		Bolivia	100
	IBM Americas Holding Limited		Bermuda	100
		IBM Brasil Industria, Maquinas e Servicos Ltda	Brazil	100	(A)
	Donelly Financial Inc.		British V.I.	100
	IBM Foreign Sales Corporation		Barbados	100
	Fitzal Capital Inc.		British V.I.	100
	IBM Canada Credit Services Company		Canada	100
	IBM Canada Limited—IBM Canada Limitee		Canada	100
	IBM China Company Limited		China	100
	IBM China/Hong Kong Limited		Hong Kong	100
	IBM de Chile, S.A.C.		Chile	100	(A)
	IBM de Colombia, S.A.		Colombia	90	(A)
	IBM Middle East FZE		United Arab Emirates	100
	IBM Middle East FZ-LLC		United Arab Emirates	100

IBM del Ecuador, S.A.		Ecuador	100
IBM Global Services India Pvt. Ltd.		India	90	(A/B)
IBM India Ltd.		India	100
YK IBM AP Holdings		Japan	100
	IBM Japan, Ltd.	Japan	100
	IBM Asia Pacific Service Corporation	Japan	100
	IBM Business Consulting Services KK	Japan	100
	Display Technologies, Inc.	Japan	100
IBM Korea, Inc.		Korea (South)	100
PT IBM Indonesia		Indonesia	99
IBM Malaysia Sdn. Bhd		Malaysia	100
Financiera de Tecnologia e Informatica S.A. de C.V., Sociedad Financiera del Objecto Limitado Filial		Mexico	99	(A)
Grupo IBM Mexico, S.A. de C.V.		Mexico	100	(B)
	IBM de Mexico, S.A.	Mexico	100	(B)
IBM New Zealand Ltd.		New Zealand	100
IBM del Peru, S.A.		Peru	100
IBM Philippines, Incorporated		Philippines	100	(B)
IBM Romania Srl		Romania	100
IBM Taiwan Corporation		Taiwan	100	(A)
IBM Thailand Company Ltd.		Thailand	100	(B)
IBM del Uruguay, S.A.		Uruguay	100
IBM de Venezuela, S.A.		Venezuela	100
IBM Vietnam Company		Vietnam	100
International Business Machines of Belgium S.A.		Belgium	100	(A)
IBM Bulgaria Ltd.		Bulgaria	100
IBM Croatia Ltd./ IBM Hrvatska d.o.o.		Croatia	100
IBM Global Services Delivery Center Czech Republic s.r.o.		Czech Republic	100
IBM Business Consulting Services s.r.o.		Czech Republic	100
IBM Eesti Osauhing (IBM Estonia Ou)		Estonia	100
Compagnie IBM France, S.A.		France	100	(B)
	IBM Eurocoordination	France	96	(A)
	Tunisian Business Machines (TBM)	Tunisia	83	(B)
IBM Europe Middle East Africa		France	100	(A)

IBM International Treasury Services Company					Ireland	—	(C)
IBM Italia S.p.A.					Italy	100
	IBM Hellas Information Handling Systems S.A.				Greece	100	(A)
	IBM Israel Ltd.				Israel	100	(A)
	Companhia IBM Portuguesa, S.A.				Portugal	100
	IBM (International Business Machines) Turk Ltd. Sirketi				Turkey	98	(A)
	IBM South Africa (Pty) Ltd.				South Africa	100
IBM East Africa Limited					Kenya	67	(A)
Sabiedriba ar irobezotu atbildibu IBM Latvija					Latvia	100
IBM Lietuva					Lithuania	100
IBM Business Consulting Services Limited					Lebanon	98	(A)
IBM BTO Global Holdings B.V.					Netherlands	100
IBM Business Consulting Services Eastern Europe B.V.					Netherlands	100
IBM Far East Holdings B.V.					Netherlands	100
	International Information Products (Shenzhen) Co., Ltd.				China	80
IBM Holdings B.V.					Netherlands	100
	IBM Global Holdings B.V				Netherlands	65	(A)
		IBM Central Holdings GmbH			Germany	100
			IBM Ceskra Republika spol.s.r.o.		Czech Republic	100
			IBM Deutschland GmbH		Germany	100
				IBM Oesterreich Internationale Bueromaschinen Gesellschaft m.b.H.	Austria	100
				IBM (Schweiz)—IBM (Suisse)—IBM (Swizzera)—IBM (Switzerland)	Suitzerland	100
			IBM East Europe/Asia Ltd.		Russia	100
			IBM Polska Sp. z.o.o.		Poland	100
			International Business Machines Corporation Magysrorssyagi Kft.		Hungary	100	(A)
		IBM Eastern Europe Holdings B.V.			Netherlands	100	(A)
			IBM Global Services Kft.		Hungary	100
		IBM International Holdings B.V.			Netherlands	100
			IBM Ireland Limited		Ireland	100
			IBM Singapore Pte. Ltd.		Singapore	100

			IBM Storage Products Kft.		Hungary	100
		IBM North Region Holdings			United Kingdom	100	(B)
			IBM Nederland N.V.		Netherlands	100
			IBM United Kingdom Holdings Limited		United Kingdom	100
				IBM United Kingdom Limited	United Kingdom	100
IBM International Centre for Asset Management N.V.					Netherlands	100
International Business Machines A/S					Norway	60	(A)
IBM West Africa Limited					Nigeria	100
IBM Slovensko spol.s.r.o.					Slovak Republic	100
IBM Slovenija d.o.o.					Slovenia	100
International Business Machines, S.A.					Spain	100	(A)
IBM Nordic Aktiebolag					Sweden	100
	IBM Danmark A/S				Denmark	100
	Oy International Business Machines AB				Finland	100
	IBM Svenska Aktiebolag				Sweden	100
IBM Business Consulting Services Limited					United Kingdom	98	(B)
IBM (International Business Machines) Is Danismanlik Hizmetleri Limited					Turkey	100

(A): Remaining percentage owned by other wholly-owned IBM company(s).
(B): Minor percentage held by other IBM shareholders, subject to repurchase option.
(C): IBM Germany owns 33.7%, IBM France owns 13.5%, IBM Finland owns 10.1%, IBM Denmark owns 18.0% and IBM Switzerland owns 24.7% of IBM International Treasury Services Company.