Jim P. Manzi Resigns As Lotus Chief Executive, IBM Senior Vice President

Cambridge, Mass., Oct. 11, 1995 -- Jim P. Manzi, chief executive officer of
Lotus Development Corp. since April 1986, resigned today. In July, Lotus
became a wholly owned subsidiary of IBM Corp. when it was acquired for
$3.5 billion.

In a memo to employees explaining his decision to resign, Manzi said: "I
have concluded over the past couple of weeks that I'm not the right person
to be leading Lotus at this juncture in its history. The attributes that I
believe made me an effective chief executive of a nearly billion-dollar
independent company, aren't necessarily the attributes required of an
executive leading a division within a much larger organization. The
challenges that excited me previously aren't necessarily the same
challenges we face today."

Manzi told employees he was proud of what they had accomplished together.
He cited the shipment of Lotus 1-2-3 in January 1983, which delivered real
value to early users of personal computers; the company's transition to a
multi-product strategy; and the company's transformation from being a
supplier of single-user desktop applications to a leader in
communications-based software "that is helping companies worldwide
transform the way they do business."

Manzi told employees he was most proud not of what they had accomplished,
"but in how we accomplished it." He added that he is confident Lotus and
IBM can work together to provide unique value to customers. He also said
he's confident that Lotus' communications-based strategy will pay
dividends far into the future and that Lotus Notes will be "the defining
network application in a networked world."

Manzi, who as a consultant with McKinsey & Company helped develop the
strategy for bringing Lotus 1-2-3 to market, joined the company as
director of marketing in May 1983. He was promoted to vice president of
sales and marketing, leading the company's expansion into international
markets, and then was named president and chief operating officer in
November 1984. In April 1986, he was named chief executive officer and
later that year, in July, he was appointed chairman as well.

Lotus Development Corp., a subsidiary of IBM Corp., offers high quality
software products and support services that reflect the company's unique
understanding of the new ways in which individuals and businesses must
work together to achieve success. Lotus' innovative approach is evident in
a new class of applications that allows information to be accessed and
communicated in ways never before possible, both within and beyond
organizational boundaries. The company also provides numerous support
services, both from its consulting division and its award-winning 24-hour
support center.

A copy of this release and other company information is also available via
fax by dialing 1-800-57-LOTUS within the U.S. and Canada or 201-946-2336
outside the U.S. and Canada. Questions concerning the service should be
directed to Lotus' corporate communications department at 617-693-5625.
 
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