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Diebold buys Colombian company

February 26, 2002

BOGOTA, Colombia -- Diebold has acquired 55 percent of Richardson & Cia. Ltda., a financial technology company in Bogota which previously was a business associate of IBM. The company, renamed Diebold Colombia S.A., is based in Bogota and will handle sales and service for all Diebold products in Colombia.

In addition, Diebold agreed to purchase the ATM service business of Comware S.A., also based in Bogota. Comware has been a Diebold distributor since 1985.

"We continue to grow our presence throughout Latin America and recognize Colombia as a strategic market," said Ernesto R. Unanue, Diebold vice president and managing director, Latin America. "Richardson and Comware are intimately familiar with Diebold and our products, so our customers in Colombia can expect a smooth transition to working directly with Diebold."

Diebold Colombia will initially employ approximately 30 sales and service professionals working from six locations across Colombia.

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