Westpac Banking Corporation selects IBM as $2.3 Billion (U.S.) Strategic Outsourcing Partner

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October 12 - 12 Oct 2000: Westpac Banking Corporation today announced that it has appointed IBM to supply its information technology services for the next 10 years in a $2.3 billion (U.S.) deal, to accelerate the bank's transformation to an e-business leader in the banking industry.

IBM Global Services Australia and its primary subcontractor Telstra have been selected to form a strategic outsourcing partnership with Westpac Banking Corporation to provide information technology infrastructure and telecommunications services. The winning solution also includes the provision of a strategic e-business initiative.

Colleen Arnold, CEO of IBM Global Services Australia, said IBM is delighted to have been selected as the company who will provide outsourcing services to Westpac Banking Corporation, after a very competitive and thorough tendering process.

"IBM is a leader in strategic outsourcing, as was recently showcased during the Sydney Olympic Games, where we provided the most complex and sophisticated information technology and telecommunications infrastructure. We look forward to providing our global and local expertise to Westpac Banking Corporation," Ms. Arnold said.

"We will use our combined research and intellectual property to accelerate Westpac's journey to a world class e-bank," she said.

"We believe that our solution will provide Westpac Banking Corporation the ability to focus on its core business of banking, while ensuring that the complex and evolving challenges of IT services are managed by a leading IT provider."

This solution also gives Westpac access to the expertise of a worldwide team, especially in an e-business era when technology innovation constantly demands the most up-to-date management practices," Ms. Arnold said.

IBM's long record of achievement and broad experience as a provider of IT solutions and services to the banking industry will help ensure a smooth transition and effective account management.

As part of the agreement, IBM Global Services Australia will provide a solution to transform Westpac Banking Corporation's IT infrastructure based on e-business enablement across all platforms and enhance the development and delivery capability of the supporting processes and people across Australia and New Zealand, Fiji and Papua New Guinea.

About IBM Global Services Australia
IBM Global Services is the world's largest information technology services provider, with 1999 revenues of more than $32 billion. In addition to consulting, IBM Global Services is the world leader in IT outsourcing, hosting and systems services. IBM Global Services employs more than 138,000 professionals serving customers in 160 countries. IBM Corporation is the world's largest information technology company, with 80 years of leadership in helping businesses deploy technology for business advantage. For more information, visit www.ibm.com/services.

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