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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000051143-03-000007.txt : 20030227
<SEC-HEADER>0000051143-03-000007.hdr.sgml : 20030227
<ACCEPTANCE-DATETIME>20030227085142
ACCESSION NUMBER:		0000051143-03-000007
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20030227

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL BUSINESS MACHINES CORP
		CENTRAL INDEX KEY:			0000051143
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER & OFFICE EQUIPMENT [3570]
		IRS NUMBER:				130871985
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-37034
		FILM NUMBER:		03581874

	BUSINESS ADDRESS:	
		STREET 1:		NEW ORCHARD ROAD
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
		BUSINESS PHONE:		9144991900

	MAIL ADDRESS:	
		STREET 1:		NEW ORCHARD RD
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>febtwentyseventhirtyone.txt
<TEXT>




                         Registration Statement No. 333-37034
                         Filed Pursuant to Rule 424(b)(3)


           International Business Machines Corporation

                          IBM Notes

         With Maturities of 1 year or More from Date of Issue


                     Pricing Supplement No. 31

(To Prospectus dated June 20, 2002 and
Prospectus Supplement dated June 28, 2002)

The date of this Pricing Supplement is: February 24, 2003



This is a Pricing Supplement. It describes the Fixed Rate Notes
now being issued under the $1,000,000,000 Medium Note program of
International Business Machines Corporation.  This document adds
to, or "supplements" the description of the Notes which we refer
to in the accompanying Prospectus Supplement and the Prospectus.
This pricing supplement provides important and detailed
information about the specific Notes we are now issuing.  This
Pricing Supplement also amends the terms of the Prospectus
Supplement and the Prospectus to the extent that the description
of the Notes in this Pricing Supplement is different from the
terms which are set forth in the Prospectus Supplement and the
Prospectus.


Trade Date:         February 24, 2003

Issue Date:         February 27, 2003

CUSIP:              459 20Q EB6

Principal Amount:   $354,000.00

Interest Rate:      3.35%

Maturity Date:      February 15, 2009

Price To
Public
(expressed as
a percentage
of the
aggregate
Principal
Amount):             100%

Discounts and
Commissions:         1.05%

Interest
Payment
Frequency:          Semi-Annually

Survivor's Option:  Yes

Subject to
Redemption
or Repayment:       No

Date and Terms
of Redemption or
repayment
(including
any applicable
regular
or special
record dates):      Not applicable

Original Issue
Discount
(OID) Note:         No

Total Amount
of OID:             Not applicable

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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