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Diebold ships record number of upgrade modules

February 25, 2002

NORTH CANTON, Ohio -- Diebold shipped a record number of upgrade modules in 1998, matching unit shipments for the first time in the company's history. The company shipped 26,286 self-service terminals and 26,211 upgrade modules worldwide in 1998, resulting in hardware revenue of approximately $500,000,000.

Diebold also announced the company would no longer break out self-service unit shipments when reporting its global self-service revenue in the future. " We believe unit shipments alone are no longer a valid barometer in measuring market activity," said Alben W. Warf, senior vice president of electronic systems development and manufacturing. "The emergence of low-end cash dispensers, as well as the growing importance of upgrade modules, has precipitated a change in the way we measure the market."

Research organizations are also changing the way they view the industry. "The self-service marketplace has become increasingly complex over the past several years," said Jim Moore, vice president of GartnerGroup Financial Services, a worldwide information technology research organization. "One can no longer get a clear and accurate view of the industry by focusing solely on unit shipments." GartnerGroup's annual industry benchmark survey, due for completion in April, will examine the industry from a number of angles, including market share for all major ATM providers based on revenue.

Upgrade revenue for Diebold has doubled in the past two years. The company also received a $42,000,000 upgrade order late in 1998, Diebold's largest single order, underscoring how important the upgrade market has become.

In addition, Diebold's self-service software revenue experienced a double- digit increase from 1997, while its professional services business also increased.

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