IBM Corporation selects TietoEnator as supplier for global treasury solution

IBM Corporation selects TietoEnator as supplier for global treasury solution Entra System10 provides IBM treasury centers in the United States and Europe with a treasury solution that is fully compliant with FAS 133. Helsinki, Finland - August 16, 2001 --TietoEnator Corporation, based in Helsinki, Finland, announced today that International Business Machines Corporation (IBM) of Armonk, New York, has chosen TietoEnator's SYSTEM10 software, owned and managed by Entra System10 AB of Sweden, a subsidiary of TietoEnator, as its global treasury solution. IBM chose the Entra System10 solution because it is a comprehensive global treasury platform, including full FAS 133 functionality and European accounting functionality, thereby providing a single, cost- effective solution which accommodates both accounting standards. "With IBM's size and complexity, it was essential that we had a system that could keep pace with the rapid rate of change in our business and which also gave us the power to closely manage and control our treasury operations", says Cassio Calil, Assistant Treasurer, Global Operations and Foreign Exchange at IBM. "We have made extensive investments in the development of treasury systems. We were one of the first to offer the market a solution that is fully adapted to the Financial Accounting Standard FAS 133 as well as European legislation, and we are proud of having it implemented at a leading US multinational corporation," says Mats Kornö, Managing Director, Entra System10 AB. IBM has been using SYSTEM10 for treasury activities since 1995. IBM's use of SYSTEM10 has expanded from an original installation at IBM's Treasury Centre in Dublin to include IBM's main Treasury Operation at its Corporate Headquarters. IBM is able to manage all of its global treasury operations from a single instance of the SYSTEM10 database, located in New York. The FAS 133 version of SYSTEM10 for foreign currency and fixed income cash instruments and derivatives was released in the year 2000. For further information, please contact: Mats Kornö, Entra System10 AB, Managing Director, +46 40 664 40 85 mats.korno@entragroup.com Martin Sjöberg, Entra AB, CEO and President, +46 709 790 870 martin.sjoberg@entragroup.com About TietoEnator: With a staff of 10,000 and annual net sales of 1.1 billion euros, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator provides consulting, systems development and integration, operation and support, product development services for customers, and software services. The Group has in-depth knowledge of its customers' businesses in areas such as telecommunications, finance, the public sector and the forest and energy industries. www.tietoenator.com About Entra: Entra is a part of TietoEnator, Finance Sector. For further information, visit www.entragroup.com. The services of TietoEnator Finance Sector are based on a strategic partnership with our customers. Finance Sector's solutions business concentrates on key technologies and the goal is, via Europe, to be a global e-finance solutions provider. In addition to net banking solutions, Finance Sector also commands strong expertise in payment systems and selected capital market solutions. Finance Sector operates in 11 different countries with more than 1600 experts and over 300 customers world-wide. TietoEnator Finance Sector is the leading partner for the banking, insurance and finance sector in Northern Europe. About IBM: IBM is a leader in the creation, development and manufacture of the industry's most advanced information technologies, including computer systems, software, networking systems, storage devices and microelectronics. More information is available on the Web at www.ibm.com TIETOENATOR CORPORATION DISTRIBUTION Principal media ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/16/20010816BIT00600/bit0002.doc http://www.waymaker.net/bitonline/2001/08/16/20010816BIT00600/bit0002.pdf