Top Institutional Shareholders of IT Services Cos.
    31-Dec-03        
      IBM   EDS  
  Institution Name $ Value Change $ Value Change
      (Mill)   (Mill)  
             
  Market Cap (4/28/04) $153,640 -2% $8,770 -26%
  Market Cap (12/31/03) $157,556   $11,814  
  Institutional Ownership % 56%   91%  
  Insider Ownership % 1%   1%  
        Change 9/30/03 Change 9/30/03
        -12/31/03 (#Shrs) -12/31/03 (#Shrs)
1 Alliance Capital Mgmt $867 4.3% $61 138.1%
2 Smith Barney Asset Mgmt $931 -5.4% $156 51.9%
3 Hotchkis & Wiley Capital Mgmt Llc     $395 29.4%
4 T Rowe Price Associates     $555 19.6%
5 Dodge & Cox     $1,253 18.1%
6 Fidelity Mgmt & Research $2,855 3.0% $119 14.5%
7 Templeton Global Advisors     $329 11.4%
8 Equinox Capital Management Llc     $128 8.0%
9 Pacific Financial Research     $1,032 7.1%
10 Capital Research & Mgmt $2,585 2.4% $1,361 6.8%
11 Bristol (John W) Co     $96 4.9%
12 Fisher Investments     $141 3.2%
13 Northern Trust Co (Chicago) $2,050 2.2% $151 3.2%
14 Vanguard Group $3,226 4.3% $236 3.2%
15 Lsv Asset Mgmt     $135 2.4%
16 Dreman Value Management     $260 0.7%
17 Oppenheimerfunds     $128 0.3%
18 Barclays Global Investors Intl $6,616 -0.8% $394 -0.2%
19 Tweedy Browne Co     $68 -4.5%
20 Deutsche Inv Mgmt Americas/Scudder Invest     $201 -4.7%
21 State Street Global Advisors $11,672 -2.4% $715 -4.7%
22 Morgan Stanley Investment Mgmt $866 -4.2% $71 -12.5%
23 Tiaa Cref Investment Mgmt Inc $1,659 -4.7% $77 -13.0%
24 Brandes Investment Partners     $349 -13.0%
25 Oppenheimer Capital     $153 -25.0%