February 05, 2007 11:36 ET

Caixanova Signs IBM for 10-Year, 70 Million Euro IT Infrastructure Management

Caixanova Seeks to Optimize Performance and Improve Customer Service With IBM

VIGO, SPAIN -- (MARKET WIRE) -- February 5, 2007 -- Caixanova and IBM (NYSE: IBM) today announced details of a 10-year, 70 million euro information technology services agreement that will optimize the savings bank's IT platform and prevent data loss in the event of possible interruptions.

With this EUR 70 million contract, Caixanova aims to:

--  Improve service quality, beginning with a technology upgrade
--  Reduce and control IT platform management costs over the duration of
    the contract  (Caixanova estimates these savings will be around 30%)
--  Focus Caixanova's IT human resources in more value added activities
--  Boost innovation by accessing best technologies and practices
--  Respond quicker to market shifts using a flexible technological
IBM will manage the savings bank's central IT infrastructure and provide business continuity and backup recovery services to protect Caixanova's business from possible data loss or system outages. In the event of an incident affecting Caixanova's central IT infrastructure, the bank's operations will be continued seamlessly from an alternative IBM site. Back-up copies of Caixanova's data are saved in real time to prevent data loss.

The agreement strengthens the existing relationship between Caixanova and IBM. For several years, IBM has maintained the bank's technology infrastructure. This includes more than 3,600 workstations (PCs and financial printers), more than 400 automatic teller machines and 17,000 dataphones.

The contract was signed in December 2006.

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