German Banking Giant NORD/LB Signs Technology Services Agreement With IBM

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HANNOVER, GERMANY and STUTTGART, GERMANY - 23 Oct 2008: The Norddeutsche Landesbank Girozentrale in Hannover (NORD/LB) and IBM (NYSE: IBM) have signed a five-year information technology (IT) services contract. This is an extension to the agreement with NORD/LB in 2004 when IBM was awarded sole responsibility for the bank's IT services.

IBM will continue to manage the operation of the entire IT infrastructure for more than 5,000 NORD/LB and Braunschweigischen Landessparkasse employees, as well as of all NORD/LB international branches.

As a part of the new agreement, IBM will modernize the IT processes, launch and continuously enhance new IT technologies. IBM will also adapt the IT processes to meet updated legal requirements particularly in terms of security and compliance.

As systems integrator, IBM will ensure the overall availability of all IT systems. This includes the operation of local and distributed networks as well applications and infrastructure servers, the storage infrastructure, all trading systems, all workplace systems and monitoring of self-service units. Bank employees will have access to IBM's central user help desk which serves as a central information hub.

NORD/LB will benefit from cost efficiencies, greater security and an enhanced and flexible price structure. "With IBM we found a strong partner, who guarantees the quality, flexibility and further development of our IT systems. For us in the financial sector, this fact is essential to survive in a market which is rapidly changing," said Volker Nagy, NORD/LB department manager, Application Management/IT.

The agreement was signed in September 2008.

About Norddeutsche Landesbank Girozentrale (NORD/LB)
NORD/LB Norddeutsche Landesbank Girozentrale, with a staff of 5,563 employees and a consolidated balance sheet total of 201.5 billion euros, is one of the leading commercial banks in the north of Germany, with the focus of business activities on North and North East Europe. For more information, visit htt://

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