EDS Reports Second Quarter 2003 Results; Company Strengthens Balance Sheet; Moves to Improve Cost Competitiveness

   ELECTRONIC DATA SYSTEMS CORPORATION AND SUBSIDIARIES

   SUMMARY OF RESULTS OF OPERATIONS
   (in millions, except per share amounts)

                           Three Months Ended          Six Months Ended
                                June 30,                   June 30,
                           2003          2002         2003          2002

  Revenues (A)            $5,522        $5,395      $10,890       $10,661

  Costs and expenses
    Cost of revenues (B)   4,737         4,416        9,694         8,638
    Selling, general and
     administrative          464           452          931           905
    Other charges (C)         43           ---           91           ---
      Total costs and
       expenses            5,244         4,868       10,716         9,543

      Operating
       income (D)            278           527          174         1,118

  Other income (expense)     (68)          (61)        (128)         (125)
    Income from continuing
     operations before
     income taxes            210           466           46           993
  Provision for income
   taxes                      71           157           15           337
    Income from continuing
     operations              139           309           31           656
  Income (loss) from
   discontinued
   operations, net of
   income taxes (E)           (1)            7           (2)           14
    Income before
     cumulative effect
     of a change in
     accounting principle    138           316           29           670
  Cumulative effect on
   prior years of a change
   in accounting for asset
   retirement obligations,
   net of income taxes (F)   ---           ---          (17)          ---
    Net income              $138          $316          $12          $670

  Basic earnings per share
   of common stock (G)
    Income from continuing
     operations            $0.29         $0.64        $0.06         $1.37
    Income from
     discontinued
     operations              ---          0.02          ---          0.03
    Cumulative effect on
     prior years of a
     change in accounting
     for asset retirement
     obligations             ---           ---        (0.03)          ---
      Net income           $0.29         $0.66        $0.03         $1.40
  Diluted earnings per
   share of common
   stock (G)
    Income from continuing
     operations            $0.28         $0.63        $0.05         $1.33
    Income from
     discontinued
     operations              ---          0.01          ---          0.03
    Cumulative effect on
     prior years of a
     change in accounting
     for asset retirement
     obligations             ---           ---        (0.03)          ---
      Net income           $0.28         $0.64        $0.02         $1.36

  Weighted average number
   of shares outstanding
    Basic                    478           481          478           480
    Diluted                  487           490            486                      492

    Cash  dividends
      per  share                              $0.15                  $0.15                $0.30                  $0.30

 


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