The agreement runs to and including 2010 with a total contract value of around NOK 120 million.

EDB will be responsible for operating Sandnes Sparebank's existing banking solutions in the areas of self-service, branch office solutions and core systems, as well as providing routine services for the operation and maintenance of its banking solution. The contract also includes new solutions to improve the efficiency of the bank's business processes.

"This is an important agreement for us. This contract will pave the way for the bank's further development in future years," comments Arve K. Vestvik, Director of Business Development and -Support at Sandnes Sparebank.

"Our relationship with Sandnes Sparebank has helped to drive product development at EDB, and we are delighted by the confidence the bank has shown by its decision to renew and expand our collaboration for the future. Winning this contract demonstrates that EDB's solutions for the banking and finance industry are competitive in this market", explains Petter I. Jenssen, EVP - Bank and Finance at EDB.

The new contract with Sandnes Sparebank runs to 31 December 2010. It replaces the current agreement, which originally ran to 31 December 2005. Business volume over the life of the new contract will be around NOK 120 million.

"This agreement with EDB gives us the reliability and certainty that we need as a bank, and we look forward to working closely with EDB in the years to come", adds Arve Vestvik.