ALLTEL's ACBS to Streamline Commercial Lending At Rabobank

Business Wire, Sept 16, 2002

Business Editors & Technology Writers

LITTLE ROCK, Ark.--(BUSINESS WIRE)--Sept. 16, 2002

Rabobank Nederland has selected ALLTEL's (NYSE:AT) Advanced Commercial Banking System (ACBS) to support the bank's commercial wholesale lending operations within Rabobank International and for its corporate clients in the Netherlands.

With assets of $320 billion, Rabobank Nederland is the 26th largest bank in the world and includes the Rabobank International banking community of 90 offices operating in 29 countries worldwide.

Rabobank will initially use the ACBS Deal and Loan Servicing Extended product to replace systems running duplicate databases in its Dutch and American operations. The fully integrated commercial lending system will enable Rabobank to streamline its business workflows, increase internal efficiency and improve customer service.

"ACBS, with its ability to eliminate redundant information and work, brings Rabobank Nederland one step closer to straight-through processing in our servicing and management of commercial wholesale lending," said Rob Niesert, executive vice president for Rabobank International. "This improved efficiency will help to strengthen Rabobank's position in the Dutch and American wholesale market."

"ACBS has proven itself as a flexible and reliable lending system capable of handling both simple and complex lending structures," said Richard Levy, president of ALLTEL's ACBS organization. "That, coupled with ALLTEL's strong customer franchise and implementation experience, will enable ACBS to assist Rabobank Nederland in achieving its business and operational goals."

The Rabobank Group (www.rabobank.com) is a broad financial services provider. Its cooperative foundation has given it a clear customer focus. All the divisions of the Group work in close cooperation in order to jointly offer customers the best possible price-quality ratio and a wide range of financial services and products, such as payment, saving, lending, insuring and investing. The group consists of about 360 independent local cooperative Rabobanks, which together have more than 950,000 members, and encompasses well-known subsidiaries and entities such as Robeco, Interpolis, Schretlen and Co., Effectenbank Stroeve, Rabobank International, De Lage Landen, Rabo Vastgoed and Gilde Investment. The group is represented internationally with 143 locations in 34 countries. The Rabobank Group has received the highest credit rating from the major rating institutes. In its Dutch home market, the Rabobank Group has nine million private and business customers and is a market leader in virtually every area of financial services.

ALLTEL's ACBS is an integrated family of commercial lending products that automates the entire range of commercial lending activity, from deal origination through settlement and accounting to risk management and loan trading. The products operate in real-time, in any currency and in multiple languages. ACBS products run on AS/400 and Windows NT/2000 server platforms and are licensed by 40 leading financial institutions, including ABN AMRO, Bank of America, Canadian Imperial Bank of Commerce, Credit Lyonnais, JPMorgan Chase, Merrill Lynch and Scotia Bank.

ALLTEL, with more than 12 million communications customers and more than $7.5 billion in annual revenues, is a leader in the communications and information services industries. ALLTEL has communications customers in 26 states and provides information services to telecommunications, financial and mortgage clients in more than 50 countries.