EDB and SpareBank 1 sign a new three-year agreement

EDB and SpareBank 1 sign a new three-year agreement

(Oslo 21.10.03) EDB Business Partner has signed a contract to provide SpareBank 1 with IT solutions and operating services for its core banking activities. The contract runs for three years from 2005 to 2007 and represents business volume of NOK 700 million. EDB's current contract with SpareBank 1 runs to the end of 2004.

"SpareBank 1 wants to secure its long-term collaboration and contractual relationship with EDB, and has signed a new contract through to 2007. We see this as an important step to ensure stable operations and to further develop our strategic collaboration with EDB. SpareBank 1 has achieved more favourable terms with this contract," explains Eivind Gjemdal, Executive Vice President responsible for IT at SpareBank 1.

The SpareBank 1 alliance comprises SpareBank 1 Midt-Norge, SpareBank 1 Nord-Norge, SpareBank 1 Oslo and SpareBank 1 SR-Bank, as well as Samarbeidende Sparebanker (Samspar).

EDB Bank & Finance provides solutions and infrastructure for the banks' core activities in the areas of lending, deposits, accounting and reporting, payment services, customer dialogue and information distribution, self-service channels and branch office solutions for sales and processing, as well as integration with SpareBank 1's other systems.

EDB IT Operations provides the operating services involved.

"SpareBank 1's decision to choose EDB's applications and services as the basis for its banking activities over the next three years confirms the group's long-term relationship with EDB. In addition to the products and services covered by this contract, EDB and SpareBank 1 are working together as strategic partners to develop new systems in line with SpareBank 1's IT strategy and EDB's delivery model. The overall relationship confirms that EDB's solutions are highly competitive and offer the functionality needed to meet a large banking group's requirements for productivity-enhancing and effective IT solutions", adds Ole Urdahl, Executive Vice President, EDB Bank & Finance.

Any enquires may be addressed to:

Ole Urdahl,

Executive Vice President, Bank & Finance,

EDB Business Partner.

Tel. + 47 90 53 61 16

Reidar Gjærum,

Executive Vice President, Corporate Communications,

EDB Business Partner.

Tel. +47 908 55 101

Eivind Gjemdal,

Executive Vice President,

SpareBank 1 Gruppen.

Tel. + 47 915 32 218

Thoralf Granerød,

Head of Communications,

SpareBank 1 Gruppen.

Tel. + 47 918 30 369

EDB Business Partner is one of the leading suppliers of IT operations and software in the Nordic region. We provide industry-leading total solutions in the areas of banking and finance, telecommunications and IT operations. Our objective is to contribute to our customers' value creation by offering productivity-enhancing IT solutions combined with flexible and reliable operating solutions with unique economies of scale. EDB Business Partner has 2,500 employees with turnover of NOK 4.3 billion in 2002. We are represented in Norway, Sweden, the USA, England, France, Poland, Spain and Switzerland. EDB Business Partner is listed on Oslo Børs with the ticker code EDBASA.