The Board of Directors of Fellesdata AS has notified EDB Business Partner ASA that it has decided to recommend the offer made by EDB to acquire 100% of the shares of Fellesdata for NOK 2 billion. EDB’s offer is conditional on receiving acceptances from at least 67% of shareholders by 17 March 2000

EDB will finance the acquisition of Fellesdata by a combination of a NOK 450 million subordinated loan from Fellesdata’s current shareholders, bank borrowings and self financing. An issue of EDB shares is planned in order to raise NOK 1.2 million, of which Telenor as the largest shareholder will underwrite up to NOK 720 million.

The acquisition of Fellesdata will bring the EDB group’s annual turnover for the current year up to approximately NOK 5 billion, of which more than 90% will be generated by IT services and software. The new group will have more than 3,000 employees, and will cover the whole of Norway as well as having activities in Europe and the USA. The combined activities following the acquisition will represent one of the leading Nordic IT operations, with a focus on IT expertise. The acquisition of Fellesdata provides a good foundation for a more extensive concentration of effort on systems for the banking and finance market internationally. The merged company will be one the largest and most efficient suppliers of centralised computer operating services in the Nordic region.

The integration of Fellesdata with the companies of the EDB group will take place by bringing together EDB Novit and Fellesdata, with Ole Trasti as the Managing Director of the merged operation. Fellesdata’s computer operating services will simultaneously be integrated with EDB Teamco, which is the main company in the EDB group for computer operating services under the leadership of Bjørn Carlsen. The Chairman of the Board of Directors for the merged EDB Fellesdata will be Group Chief Executive Officer Bjørn Trondsen. These organisational arrangements and the integration of the two companies’ operations are expected to permit the realisation of significant synergy gains without any plans for staff reductions in the companies involved. A preliminary estimate of the synergy gains in question indicates that they will be in the order of NOK 150-200 million annually in due course.

A press conference will be held at 11.00 am today at Fellesdata’s offices at Nedre Skøyen vei 26, Oslo.

Oslo, 22 February 2000

EDB Business Partner ASA

Any questions arising from this press release may be addressed to:

Bjørn Trondsen, Group Chief Executive, EDB Business Partner ASA
Tel: 22 94 40 30 or mobile 91 78 56 17
Ole Trasti, Managing Director, Fellesdata AS
Tel: 22 52 80 80 or mobile 90 08 99 00