EDB has entered into a preliminary agreement with FOREX Bank AB to supply banking services and to take over the operation of the bank's IT solutions. The agreement runs for 5 years, and represents total contract value of around NOK 200 million.
 
 "This agreement is strategically important for EDB, and represents a service delivery model that is an important area of focus for us. EDB wants to be a driving force in promoting software as a service in the Swedish market. The agreement with FOREX Bank confirms that EDB's software as a service model is already competitive in today's market", comments Wiljar Nesse, Executive Vice President - Bank & Finance at EDB.

"The crucial factors for FOREX Bank when choosing our supplier were cost-efficient solutions and speed to market. Our collaboration with EDB will give us access to competitive solutions and reliable
operations,  and this will allow us to focus on our core activities" comments Magnus Cavalli Björkman,  Managing Director of FOREX Bank.

Software as a service
The preliminary agreement provides for EDB and FOREX Bank to work together to prepare the implementation of the transformation process and transfer of FOREX Bank's IT services. The overall objective is for EDB to provide a complete portfolio of solutions, together with operating services, as a service delivery for FOREX Bank ('software as a service'). EDB will also provide interfaces between its solutions and the Swedish banking system's infrastructure. The agreement also provides for EDB to take over 5-10 employees.

For further information, please contact:

Executive Vice President - Bank & Finance
Wiljar Nesse, Tel: +47 934 48 116

Executive Vice President and Chief Financial Officer
Kristian Kuvaas Johansen, Tel: + 47 476 03 334

Executive Vice President - Corporate Communications
Geir Remman, Tel: + 47 970 55 017


About FOREX Bank
FOREX Bank has been a market leader in currency exchange for travellers since 1965. Since mid-2003,  the bank has also offered an expanding range of other banking services such as deposits, lending, payment services and cashier services, as well as credit and payment
cards.

FOREX Bank operates from offices in 125 central locations throughout the Nordic countries and in England, and also operates over the internet:  www.forex.se

About EDB
EDB Business Partner is one of the leading IT groups in the Nordic region. The company offers solutions for the full range of business-critical IT services. EDB aims to be a close and attentive
partner that leverages its deep industry knowledge and international capabilities to help its customers realise the full potential of IT. The company has local presence in 13 countries, 6,200 employees and
an annual turnover of around NOK 8 billion.