EDB Business Partner ASA - Announced efficiency measures to be implemented

EDB Business Partner ASA - Announced efficiency measures to be implemented

(Oslo, 18 June 2004) EDB Business Partner intends, as announced on 26 March in connection with its agreement to acquire activities from Telenor, to implement various measures to improve efficiency. The measures were a precondition for the agreement.

EDB has today announced a range of measures principally related to the integration of Telenor's operating services division with EDB. Measures include reductions in headcount, more efficient use of premises and more efficient purchasing in areas including hardware and software. These measures principally relate to the activities of EDB IT Operations, and implementation will start in autumn 2004. The number of employees that will be affected by these changes will not be known until the detailed planning process is completed in August. As part of these measures, EDB will offer termination packages to employees in the affected areas of the group who elect for voluntary redundancy.

The major part of the costs involved will be covered by the provision of NOK 180 million for restructuring made in connection with the agreement with Telenor.

Any enquiries may be addressed to:
John-Arne Haugerud, Executive Vice President IT Operations: +47 901 15 337
Reidar Gjærum, Executive Vice President Corporate Communications, +47 908 55 101

EDB Business Partner is one of the leading suppliers of IT operations and software in the Nordic region. The company provides industry-leading total solutions in the areas of banking and finance, telecommunications and IT operations. EDB's objective is to contribute to its 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 some 2,500 employees and reported turnover of NOK 4.3 billion in 2003. EDB is represented in Norway, Sweden, the USA, England, Spain and Switzerland. EDB Business Partner ASA is listed on Oslo Børs with the ticker code EDBASA.