Union Bank of Norway selects market information and pricing tool from TietoEnator

Union Bank of Norway selects market information and pricing tool from TietoEnator Union Bank of Norway in Oslo and Entra, subsidiary of TietoEnator, have signed an agreement concerning the implementation of Entra´s module Xdream. Union Bank will use Xdream for examining foreign exchange and currency interest rates. The agreement means that TietoEnator further strengthens its position in the Norwegian banking and finance markets. - The installation of Xdream provides us with a market information and pricing tool on forwards that is fast and reliable, giving us an important additional tool for right decision making in our trading activities, says Olav Gunnes, Deputy General Manager and Head of Interest Rates, Trading, and Sales, of Union Bank of Norway. - Since Norway will remain outside the EMU for the foreseeable future, having state of the art tools for pricing in the markets is of even greater importance than in many other European countries. For this reason it is of extra importance when a leading Norwegian bank selects Xdream to power their trading, says Mats Kornö, Business Unit Manager, Entra System 10. Union Bank of Norway manages approximately 200 billion NOK, has 3800 employees, and is one of the fifteen largest companies on the Oslo Stock Exchange. Xdream is used for analyses and pricing by traders in bank or finance departments. The product enables complex calculations that involve currency and interest rates. Users can import data from sources such as Reuters, Telerate and Bloomberg. Xdream handles arbitrage calculations, what-if calculations, break-even analyses and foreign currency based comparisons of interest rates. For further information, please contact: Mats Kornö, Business Unit Manager, Entra System10, Entra AB +46 40 664 40 85, mats.korno@entragroup.com Anders Friberg, Marketing Director, Entra AB, +46 8 59790 399, anders.friberg@tietoenator.com 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 1700 experts and over 300 customers worldwide. TietoEnator Finance Sector is the leading partner for the banking, insurance and finance sector in Northern Europe. With more than 10,000 employees 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 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/2001/10/24/20011024BIT00710/bit0002.doc http://www.waymaker.net/bitonline/2001/10/24/20011024BIT00710/bit0002.pdf