| Folksam in Sweden chooses mutual funds solution from EDB |
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(Oslo, 26 April 2005) The Swedish insurance and mutual funds company Folksam has signed an agreement with EDB Business Partner for a new solution for the administration of direct savings in its mutual fund products. The solution will give Folksam more efficient work processes and help ensure that the company is competitive in the funds market through lower fees and better service for its customers. The contract represents business volume approaching NOK 15 million over five years. The new solution from EDB will allow Folksam to combine four different administration systems into a single system. The EDB solution will provide Folksam with rational and user-friendly administration of a range of mutual fund products marketed under different brand names. This gives Folksam's customers a wide range of choice, which is very important in the rapidly growing market for mutual funds products. The EDB solution will also allow simple and cost-effective additions of new fund products in the future.
Folksam is one of the largest insurance companies in Sweden, and is a mutual company run as a co-operative. Folksam is the seventh largest player in the Swedish mutual fund market, with assets under management of around SEK 29 billion.
Any enquires may be addressed to:
Ole Urdahl, EVP - Solutions, EDB. Tel: + 47 905 36 116
Jørgen Christiansen, Acting EVP - Corporate Communications, EDB. Tel: + 47 913 13 199 Bo Thärning, Managing Director, Folksam Fond. Tel: +46-8-772 60 00
EDB Business Partner is listed on Oslo Børs with the ticker code EDBASA. More information on EDB can be found on the company's website at: www.edb.com
Folksam is one of the largest insurance companies in Sweden, and is a mutual company run as a co-operative. More information on Folksam can be found on the company's website at: www.folksam.se
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