The contract represents business volume of NOK 10 million. EDB has a long-standing relationship with Handelsbanken in Norway. This is EDBs first contract with Svenska Handelsbanken in Sweden. The contract provides for EDB to develop a web-based portal for contact between Handelsbankens customers and employees in Sweden via its Internet banking service. EDB will supply software components and consultancy services for this solution. Handelsbanken signed a contract in April for an ASP based electronic distribution system in Norway. This contract represents business volume of around NOK 8 million over a 2-year period. In addition to these contracts, EDB has also signed a Business Process Outsourcing (BPO) agreement for the card area with Svenska Handelsbanken in the United Kingdom. This agreement includes issuing debit cards, card administration, security solutions, card production, support, reconciliation/settlement and operating services. EDB has sold a similar solution to a number of UK offshore banks in the past.
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