Sampo Group and TietoEnator broaden scope of cooperation

Sampo Group and TietoEnator broaden scope of cooperation Sampo Group and TietoEnator have agreed on long-term cooperation in information technology. Sampo will outsource its insurance IT services to Tietoleonia Oy, a joint venture company owned by Sampo and TietoEnator. The new agreement will be effective from the 1st of January 2002. The joint venture's net sales during its first year of operation are estimated to total approximately EUR 110 million. Under the terms of the arrangement Tietoleonia will take on some 330 IT employees from Sampo. Tietoleonia has previously been responsible for the IT functions within Sampo Bank Group. The realisation of arrangement requires all the necessary approvals from the authorities. "Through concentration of its critical IT services Sampo is looking most of all for synergies and greater efficiency. Our decision was also influenced by previous positive experience of working in long-term partnership with TietoEnator", declared Mr Matti Ylilammi, CIO of Sampo. "TietoEnator's Finance Sector services in the Nordic countries are based on strategic partnership with key customers. The new agreement with Sampo, the largest partnership agreement so far concluded by TietoEnator, strengthens our goals and position as the leading IT partner to the banking, insurance and finance sector in the Nordic countries," stated Mr Veli Pohjolainen, Senior Executive Vice President of TietoEnator. TietoEnator holds 60% of the shares and 40% of the voting power in Tietoleonia, and Sampo correspondingly 40% of the shares and 60% of the votes. TietoEnator is responsible for the company's business management. Tietoleonia's personnel will increase to 620. The president of the company is Ms Anja Hurme. Tietoleonia, which is likely to be renamed, will be reorganised around two units: System Services and Production and Support Services. It is planned to incorporate these units as joint stock companies at a later date. System Services will be responsible for development and maintenance of IT systems. Its personnel, about 390 employees, will come from both Tietoleonia and the IT system development function transferred from Sampo. Conversely, some of Sampo's network systems development people will be moved from Tietoleonia to Sampo. Altogether about thirty people will move from Tietoleonia to Sampo. Production and Support Services will provide Sampo Group's IT production and support services. The unit will comprise employees from Tietoleonia's production and support services and from Sampo's SamNet unit, totalling about 230 people. For further information, please contact: Mr Matti Ylilammi, CIO, Sampo, tel. +358 40 510 5008 Mr Veli Pohjolainen, Senior Executive Vice President, TietoEnator, tel. +358 9 8626 0670, +358 400 418 284 Ms Anja Hurme, President, Tietoleonia, tel. +358 9 8595 0201, +358 400- 432874 With a staff of 10,000 and annual net sales of 1.1 billion euro, 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 Sampo is a full-service financial group providing financial, investment and insurance services. Sampo has more than two million active retail customers and 170,000 corporate customers. The Group employs approximately 10,000 finance and insurance professionals. Consolidated net sales in 2000 totalled 5.5 billion euro. www.sampo.fi TIETOENATOR CORPORATION DISTRIBUTION Helsinki Exchanges Stockholm Stock Exchange 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/2001/10/03/20011003BIT00080/bit0001.doc http://www.waymaker.net/bitonline/2001/10/03/20011003BIT00080/bit0001.pdf