(Oslo 09.05.01) Telenor, EDB Business Partner and Cap Gemini Ernst & Young have today entered into a Letter of Intent with Den norske Bank (DnB) to take over the operation of the bank's entire operational platform for information and communication technology (ICT). The agreement represents a total contract value of NOK 3 billion for the partners in the alliance over a 5-year period.

The Letter of Intent envisages that the parties will sign a final contract by 1 July of this year. The Letter of Intent provides for EDB Business Partner to take over DnB's ICT operation with around 190 employees in Oslo and Bergen. EDB Business Partner's share of the contract value will amount to approximately NOK 400 million per annum over the life of the contract.

On 3 January 2001 DnB invited a number of bidders, including the Telenor alliance made up of Telenor, EDB Business Partner and Cap Gemini Ernst & Young, to submit proposals to take over the operation of DnB IT-Operations, the bank's operational unit responsible for its ICT platform.

Since submitting its original bid, the Telenor alliance has carried out a detailed analysis of the bank's ICT systems, and the parties have reached agreement on the principles for the contract. In the final negotiations to be carried out between now and 1 July 2001, the parties intend to reach a final agreement whereby Telenor and EDB Business Partner will take over the ownership and operational responsibility for the bank's ICT operations, including the personnel and equipment involved, as well as acquiring DnB's premises at Sandsli outside Bergen.

"This agreement helps to strengthen our position as one of the leading suppliers of ICT operations in the Nordic countries, and represents a very important step in the process of establishing our position as a strong Norwegian player in a growing international market", comments Bjørn Trondsen, Chief Executive Officer of EDB Business Partner.


Brief details of EDB Business Partner:
With more than 3,000 employees and annual turnover of NOK 4.5 billion, EDB Business Partner is one of the leading Nordic suppliers of IT solutions. EDB Business Partner is a total supplier of software systems, IT consultancy and computer operating services in the Norwegian and Nordic markets. Our leading-edge expertise in telecommunications and banking & finance provides the basis for international expansion beyond the Nordic countries. The group it is strongly represented in Norway, as well as in the USA, Ireland, Sweden, the Benelux countries, Switzerland, France, Spain, Poland and Hungary.

Contact names:

Bjørn Trondsen, Chief Executive Officer, EDB Business Partner ASA,
Mobile Tel: +47 91 78 56 17

Bjørn Carlsen, Group Director for Computer Operating Services and Outsourcing, EDB Business Partner, Mobile Tel: +47 91 19 38 55.