Verdibanken chooses EDB as it is long-term partner

Verdibanken chooses EDB as it is long-term partner

(Oslo, 7 June 2007) Verdibanken ASA has extended its strategic agreement with EDB to 2015. The agreement with EDB is part of the bank's commitment to offering efficient solutions for its customers and employees, as well as ensuring a predictable commercial basis for its activities in future years. The agreement represents total contract value for EDB in the order of NOK 40 million over its life.

Verdibanken's corporate vision is to promote charitable values and corporate social responsibility. The bank has achieved controlled growth since it opened for business in 2003, and currently has total assets of NOK 1 billion. The bank plans further growth, and so needs an IT partner that can offer reliable and scalable solutions. Verdibanken has been a customer of EDB since the bank was first established.

"EDB provides efficient solutions for our customers and employees that deliver competitiveness and support our areas of strategic focus for future years. Verdibanken is following a program of planned growth, and EDB's solutions make a major contribution to ensuring the predictability of our continuing growth and helping us to expand with a minimum level of staffing. Our experience of EDB as a supplier and the expertise the company contributes made EDB a natural choice for the years to come", explains Toralf Østli, Managing Director of Verdibanken ASA.

"We see Verdibanken's choice of EDB as its long-term partner as a very positive sign that the bank is satisfied with our services. EDB is committed to delivering efficient solutions that make the bank's business processes as cost efficient and user-friendly as possible for the bank's customers and employees. We look forward to our continuing collaboration, and will do all we can to help Verdibanken achieve its business objectives", comments Eva Trasti, Executive Vice President - Bank and Finance at EDB.

9-year agreement

The new agreement between Verdibanken and EDB runs to 31 December 2015. This replaces the existing agreement between Verdibanken ASA and EDB that runs to 2010. EDB provides the bank's self-service systems for the retail and corporate markets, as well as complete bank counter solutions. The solutions delivered also include fully integrated systems for accounting and financial reporting. In addition, EDB provides products and services linked to the core bank solution and multi-channel distribution.

Any questions may be addressed to:

Eva Trasti, EVP - Bank & Finance, EDB. Tel: +47 928 97 381

Toralf Østli, Managing Director, Verdibanken ASA. Tel: +47 922 86 963

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

Verdibanken ASA opened for business as a commercial bank on 17 November 2003. Verdibanken's objective is to be a nationwide bank and offer services based on modern technology to charitable organisations, companies and private individuals. The bank is committed to offering specialist expertise and tailored solutions for charitable organisations.

EDB Business Partner is a leading stock exchange listed IT group for the Nordic region. The group has 3,800 employees, and reported turnover of NOK 5.8 billion in 2006. 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 is committed to being a close and attentive IT partner that helps its customers operate more efficiently and achieve their business objectives. EDB Business Partner is listed on Oslo Børs with the ticker code: EDBASA.

For further information see www.edb.com.