EDB Business Partner ASA receives contract expansion from Storebrand Livforsikring AS

Nordic Business Report, March 12, 2008

NORDIC BUSINESS REPORT-12 March 2008-EDB Business Partner ASA receives contract expansion from Storebrand Livforsikring AS(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian IT services provider EDB Business Partner ASA said on Wednesday (12 March) that it has received a contract extension from the insurer Storebrand Livforsikring AS.

The new agreement extends an existing IT operating services contract until January 2014, and expands on the contract to also include mainframe and server operations for the pensions and life insurance company SPP in Sweden.

"The additions and changes to the contract are expected to represent additional contract value of around NOK300m, of which the deliveries to SPP amount to around NOK150m," EDB Business Partner said.

EDB Business Partner, headquartered in Oslo, Norway, is one of the largest Nordic IT groups. The group has 6,000 employees in Norway, Sweden, Denmark, Ukraine, the UK and India, and has an annual turnover of NOK8bn. EDB Business Partner is listed on the Oslo Stock Exchange and traded under the ticker EDBASA.

One British pound (GBP) is worth approximately 10.34 Norwegian kroner (NOK).

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