(Oslo 01.10.01) Landkreditt has today entered into an agreement with EDB Business Partner's wholly-owned subsidiary EDB Fellesdata for the purchase of software and computer operating services to establish its banking operation. The agreement is for a five-year period, and is worth NOK 50 million.

EDB Fellesdata will supply banking systems and consultancy support to establish the bank, while EDB Teamco will provide computer operating services.

The contract with EDB Business Partner represents a complete IT system to set up the new banking operation, including systems for central banking functions, accounting and finance and branch offices, as well as self-service and card functions.

Landkreditt is part of the agricultural co-operative movement, and is the largest finance company serving agriculture, agricultural industries and rural businesses. Landkreditt currently provides finance to 12,000 borrowers and has total assets of NOK 5.9 billion. The new banking activities are planned to come into operation on 1 March 2002.

"With the agricultural sector and the retail market as its primary markets, Landkreditt intends to establish a nationwide commercial banking operation. The portfolio of products and services to be offered, are based on modern systems supplied by EDB Fellesdata. Internet and card-based banking services will play a central role in our banking offer to customers" explains Rolf E. Delingsrud, head of Landkreditt's banking operation.

Contact names:

Ole Trasti, Executive Vice President, Bank & Finance, EDB Business Partner,

Tel. +47 22 52 82 60, +47 90 08 91 00

Rolf. E. Delingsrud,

Head of Banking Operation, Landkreditt, Tel. +47 23 10 35 44