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National Finance signs contract with IBM

NFS to leverage IBM's expertise to support its business growth and expansion; Thailand's first outsourcing contract involving local finance companies

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BANGKOK - 12 May 2003: National Finance Public Company Limited (NFS), one of Thailand's leading finance and securities companies, and IBM today announced a five-year information technology partnership.

Under the terms of the agreement, NFS has outsourced its computer centers, network system and IT operations to IBM. NFS continues to maintain security and privacy measures. No NFS staff has been impacted by this partnership agreement. Using IBM's technology infrastructure, NFS' various subsidiaries will be able to expand their respective branch operations throughout Thailand and offer new and better financial services to customers.

"In today's dynamic global economy, NFS needs to be able to sense and respond to the changing needs of our customers, suppliers, partners and competitors in a cost-efficient manner," said Mr. Suphadej, president and Chief Executive Officer, National Finance Plc. "This agreement is part of NFS' business expansion strategy. The partnership with IBM will enable us to reduce IT infrastructure expenses and investment risk, and allow us the flexibility and capability to grow our business."

"We're excited to be part of NFS' growth and expansion strategy," said Ms. Suphajee Suthumphun, country general manager, IBM Thailand. "Using IBM's technology, combined with our deep industry expertise, NFS is set to be an e-business on demand company that will have a resilient, variable, flexible and autonomic operating environment."

Mr. Suphadej added that IBM was chosen for its long history of helping businesses worldwide innovate and derive value from investments in information technology. NFS believes it will be able to gain better returns on its IT investments with IBM since it will now have variable costs structures, higher levels of productivity, capital efficiency and financial predictability.

Additionally, NFS will be able to concentrate on its core competencies while drawing on IBM's skills to manage IT tasks. As a result, NFS will stabilize costs while improving overall competitiveness and service levels.

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