IBM Signs major IT Services agreement with HSH Nordbank and PLUS BANK


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ARMONK, N.Y. - 07 Jun 2004: HSH Nordbank and its fully-owned subsidiary, PLUS BANK, today announced that they have signed a five-year IT services agreement with IBM valued at over 100 million EUROS. IBM will take over the management and transformation of part of the German banks' information technology.

While HSH Nordbank focuses on its core financial services business, IBM Global Services will design, host and operate several types of applications, including trading, security systems and SAP applications.

IBM Global Services will also take over the operation of mainframe, server, and storage systems in two data centers. IBM will assume printing, postal services and archiving associated with HSH Nordbank's banking operations.

"With this step, we will be able to concentrate more on our core competencies and save costs to a significant extent," says Hans Berger Vice CEO of HSH Nordbank.

Rudolf Bauer, General Manager IBM Global Services Central Region, said, "With our experience helping clients transform their business through technology, we fully support HSH Nordbank and PLUS BANK in their business strategy for the future."

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