(Oslo 27.06.2003) Länsförsäkringar Bank has signed an agreement with EDB Business Partner to renew and extend its current contract for the administration and ongoing development of its Internet banking systems. The new contract runs for four years and is worth around NOK 40 million in total.

 

"Our collaboration with EDB has worked very well, and we are very satisfied with both the quality and the cost-effectiveness of the products and services that EDB provides. We have therefore decided to extend the contract", explains Tomas Johansson, Managing Director of Länsförsäkringar Bank.

 

"We are very pleased that Länsförsäkringar Bank has decided to extend its contract with EDB. This serves to confirm that EDB is recognised in the Swedish market as a competent service supplier in an area where banks set high standards for long-term commitment and continuity", adds Ole Urdahl, Executive Vice President of EDB Business Partner.

 

The original three-year contract signed on 26 April 2002 has now been renewed for four years from 1 July 2003. The total contractual value of NOK 40 million for the new contract includes NOK 20 million already disclosed in the stock exchange announcement in respect of the original contract.

 

EDB Infovention is responsible for the administration and ongoing development of Länsförsäkringar Bank's Internet banking system. EDB Infovention is EDB Business Partner's Swedish subsidiary for the group's Bank & Finance business area.

 

Länsförsäkringar, which comprises 24 independent local insurance companies and the jointly-owned Länsförsäkringar AB, is the only customer-owned and locally established banking and insurance alliance in Sweden. Länsförsäkringar offers a wide range of insurance products and financial services for both the corporate and retail markets, and has almost 2.9 million customers. Länsförsäkringar Bank is the banking arm of the Länsförsäkringar alliance.