EDB - Breakthrough for EDB's card services in Sweden

EDB - Breakthrough for EDB's card services in Sweden

(Oslo, 10 October 2006) The Länsförsäkringar Alliance of regional insurance companies in Sweden has signed a contract to appoint EDB as its total supplier of card services. The contract represents total business volume of at least SEK 50 million and runs for five years. Winning this contract represents a breakthrough for EDB's card services in the Swedish market.

The contract provides for EDB to take on responsibility for the entire infrastructure of Länsförsäkringar's card activities. EDB will deliver a cost efficient and flexible solution that will pave the way for Länsförsäkringar to expand its banking activities rapidly. The contract will also help Länsförsäkringar to free-up resources in order to place even greater focus on its customer offer and to continue its rapid expansion in the Swedish banking market. Länsförsäkringar currently offers both banking and payment cards as part of its overall offer for banking and insurance. Länsförsäkringar is a leading player in the Swedish financial market and manages assets of SEK 173 billion.

"This cost-efficient solution will give us greater flexibility and help us to offer our customers an even better service. By choosing EDB as our supplier we have gained a skilled and professional partner", comments Johan Nyman, Head of Savings and Payments at Länsförsäkringar Bank AB.

"Länsförsäkringar's decision to choose EDB as its partner represents an important breakthrough for EDB in the card services market in Sweden. We believe that Länsförsäkringar's choice of EDB confirms the strength of the services we offer for the banking and finance sector", explains Eva Trasti, Director EDB Bank & Finance. EDB delivers services to over 160 customers in the European banking and finance sector.

For further information contact:

Eva Trasti, Director, EDB Bank & Finance, +47 901 17 009

Geir Remman, EVP - Corporate Communications, EDB. Tel: +47 970 55 017

EDB in brief:

EDB Business Partner is a leading stock exchange listed IT group for the Nordic region. The group has 3,900 employees with turnover of NOK 4.8 billion in 2005. EDB delivers solutions that cover the entire range of business critical IT services from application services and industry-specific solutions through to IT operating services and network solutions. EDB strives to be a strong and close IT partner for its customers and to help them operate more efficiently and achieve their business objectives.

Länsförsäkringar in brief:

With 24 independent regional insurance companies and the jointly owned Länsförsäkringar AB, the Länsförsäkringar Alliance is Sweden's only customer-owned banking and insurance group. Länsförsäkringar has Sweden's most satisfied bank and insurance customers, according to the Swedish Quality Index 2005 survey. Länsförsäkringar was named "Non-life Insurance Company of the Year" for the third consecutive year by the Affärsvärlden business weekly. Länsförsäkringar offers a broad range of insurance and financial services for private individuals, companies and the agricultural sector. Länsförsäkringar has a 30% market share of the Swedish non-life insurance segment, with a 10% share of the life and pension assurance market and 3% of the banking market. Länsförsäkringar manages assets of SEK 173 billion.