(Oslo 16.04.2002) The Cheshire Building Society in the United Kingdom has signed a contract with EDB Business Partner's wholly owned subsidiary EDB SysCon for software to be used in its lending operations. The contract is worth some NOK 6 million.

The Cheshire Building Society is the eleventh largest building society in the United Kingdom, with total assets in 2001 of GBP 3 billion. The SysCon Lending System was chosen by the society in competition with five UK-based suppliers.
"We were looking for a system that provided both bi-lateral and syndicated functionality. SysCon was able to provide this in the most efficient way with a single system", explains
Kelvyn Hughes, Commercial Lending Controller at the Cheshire Building Society.

The SysCon Lending System is a complete and flexible system for both complex commercial lending and retail lending, and provides administration throughout the entire life cycle of a loan. The system is now used by number of European and Norwegian banks and financial institutions. The major European customers are the Bank of Scotland and the Nationwide Building Society in the UK, Alpha Bank in Greece and Danish Ship Finance (DSF).

"We have opened an office in the UK to strengthen our international presence. SysCon already has three major customers in the UK, and we see good prospects for further business in this market. The new order from the Cheshire Building Society confirms that the system is internationally competitive", comments Mikael Krohn, Managing Director of EDB SysCon.

Any enquiries may be addressed to:
Mikael Krohn, Managing Director of EDB SysCon,
Tel. +47 24 14 93 83, +47 90 15 72 75

Ole Trasti, Executive Vice President, Bank & Finance, EDB Business Partner,
Tel. +47 22 52 82 60, +47 90 08 91 00