IBM and AFFINBANK in IT Partnership Agreement

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KUALA LUMPUR, MALAYSIA - 07 Feb 2007: IBM (NYSE: IBM) and Affin Bank Berhad (AFFINBANK), one of the nine anchor banks in Malaysia, announced that the companies have entered into an information technology partnership agreement worth US$121 million over 10 years designed to modernize AFFINBANK's IT infrastructure and improve customer service.

This contract with IBM will enable AFFINBANK, in tandem with its Banking Without Barriers™ approach, to gain flexibility, rationalize its IT costs and move to a standard and global IT platform which will aid in the removal of boundaries as well as change the face of conventional banking.

IBM will consolidate and enhance AFFINBANK's data center operations and provide infrastructure management services that include helpdesk and desktop management for the bank's personal computers, server management, network services, security services, asset management, disaster recovery, database management, and system management controls. AFFINBANK's IT group will continue to be responsible for the alignment of its IT strategy with its business goals, vendor management, and strategic projects.

"This partnership agreement will enable AFFINBANK to transform itself into an innovative company that looks at taking firm and decisive steps in delivering world-class banking experience to their clients," said Voon Seng Chuan, Managing Director, IBM Malaysia.

"Through this agreement, AFFINBANK will be better positioned to anticipate and sustain its growing customer demands, respond quickly to changing conditions, realize cost savings, and improve its operational efficiency and competitive advantage. IBM is very excited to be given this opportunity to work with AFFINBANK to help it leverage technology and innovation in the financial services industry to help it achieve its business goals," added Voon.

The deal was inked late last year and work will commence shortly.

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Affin Bank Berhad (AFFINBANK) is a wholly owned subsidiary of Affin Holdings Berhad which is listed on Bursa Malaysia.

It commenced operations in January 2001 following a merger between the former Perwira Affin Bank Berhad and BSN Commercial (M) Berhad in August 2000. In June 2005, it merged with the former Affin-ACF Finance Berhad. To date, it has a network of 82 branches nationwide. The Bank is constantly reviewing the geographical reach of its branches to better serve its customers. Towards this end, the Bank is on constant look-out for more strategic locations for the existing branches and to relocate if deemed appropriate.

The Bank serves both retail and corporate customers. The business units of the Bank comprise Enterprise Banking, Consumer Banking and Debt and Capital Markets. Consumer Banking provides credit cards, personal loans, mortgages and deposit taking services to individuals. Enterprise Banking offers corporations, institutional clients and SMEs services in corporate banking, contract financing and trade finance. Enterprise Banking serves as an important feeder to the other business units by way of contacts and opportunities.

In line with the introduction of its new concept based on the theme Banking Without Barriers™, five branches have been transformed into what is known as Customer Relationship Centers namely in Bangsar, Putrajaya, The Curve shopping mall, Sitiawan and Wisma Pelaut.

Banking Without Barriers™ signifies the removal of boundaries within the processes of the Bank as well as in its attitude in servicing its customers. The latter means reaching out to the customers, improving relationships with them, making each one of them, and not just a select few, feel privileged and enhancing services to them. Simply put, AFFINBANK is embracing a new approach to banking and changing the face of conventional banking.

AFFINBANK's Islamic banking subsidiary Affin Islamic Bank Berhad (AFFINISLAMIC) commenced operations on 1st April 2006. As a full-fledged Islamic bank, AFFINISLAMIC offers a complete range of Islamic Banking products and services encompassing the areas of Enterprise and Consumer banking.

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