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Diebold signs Taiwan distributor, establishes Thai subsidiary

February 25, 2002

TAIPEI, Taiwan and BANGKOK, Thailand -- Diebold has appointed Licent Information Technology (LIT) as its distributor in Taiwan. LIT will market, install, service and support Diebold ATMs and other products throughout Taiwan.

James Chen, Diebold vice president and managing director, Asia/Pacific, said that Diebold looks forward to growing its roster of customers in the area. Chen added that LIT's experience in the ATM business and its understanding of the market will be an asset to Diebold's customers. LIT offers 75 years of experience in banking automation with 24-hour service centers in Taipei, Taichung and Kaohsiung.

Previously, Diebold distributed ATMs in Taiwan through IBM.

Also, Diebold is establishing a subsidiary in Thailand to provide sales, service and support to the Thai market. Verapun Patanayindee will be managing director of Diebold Thailand, the wholly-owned subsidiary. Diebold Thailand will initially employ about 20 associates, and expects to employ more than 100 within the next three years.

Prior to joining Diebold, Verapun Patanayindee served as executive director for Sahaviriya Infotech Computer, a systems integrator in the banking and telecommunications industries, based in Bangkok. Born in Bangkok, Verapun is a graduate of King Mongkut Institute of Technology University.

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