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IBM Powers Core Infrastructure for Finnish Pension Insurance Providers

Posted on: Monday, 10 December 2007, 12:00 CST

IBM (NYSE: IBM) and Arek, a Finnish information technology (IT) services company serving the pension insurance sector, today announced a five-year agreement for IBM to manage the IT infrastructure for Arek and the Finnish Centre for Pensions.

Arek manages the shared earnings register used by all pension insurance providers in Finland to calculate pensions. Arek is owned by leading Finnish insurance companies as well as the Finnish Centre for Pensions, the central body of Finland's statutory earnings-related pension scheme.

"Arek's systems are vital for the whole functioning of the statutory earnings-related pensions scheme in Finland. In choosing IBM as our service provider, we aim to achieve greater cost effectiveness, higher usability and quality of service and better management of IT-related risks," said Ari Ikonen, CEO of Arek Oy.

"Arek provides core IT services for the entire Finnish pension insurance industry and is committed to providing extremely stringent service-level agreements for its own end customers. By entrusting its IT infrastructure to IBM, Arek can ensure the availability of the best technical support in every situation," said Tuomo Haukkovaara, IBM Global Technology Services Finland Executive.

The agreement was signed at the end of November 2007, and the transition of infrastructure services from Arek's current service provider to IBM will commence immediately. Financial details of the agreement were not disclosed.

About Arek Oy

For more information on Arek Oy, please visit: www.arek.fi

About IBM

For more information about IBM, visit www.ibm.com/services/outsourcing.

 Contact: Arek Oy Ari Ikonen CEO puh. 010 751 2642 puh. 0400 365 204  IBM Jenna Gable Media Relations 917-472-3512 gablej@us.ibm.com

SOURCE: IBM

Source: MARKET WIRE

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