SOK to buy account system from Crosskey Banking Solutions

BANK OF ÅLAND PLC STOCK EXCHANGE RELEASE 23 SEPTEMBER 2005 at 09.00 SOK to buy account system from Crosskey Banking Solutions Suomen Osuuskauppojen Keskuskunta (SOK), the central organisation of Finland's consumer co-operative retailing societies, and Crosskey Banking Solutions Ab, a subsidiary of the Bank of Åland, have signed a contract to renew the S Group's financial services account system. The new account system is intended to go into service in stages during 2007. The contract also contains an option for SOK to expand the functionality of the system to handle additional financial services. The contract includes a user licence, implementation, development and operation of the new system. The S Group in brief The S Group consists of 22 regional co-operative societies and SOK plus subsidiaries. The co-operative societies form a nationwide network. Their operations are characterised by a strong regional emphasis. The S Group's fields of business are the supermarket trade, service station stores and fuel sales, the department store and speciality store trade, the hotel and restaurant business, sales of vehicles and parts, as well as the agricultural trade. The S Group's purchasing and logistics are handled by the associated company Inex Partner Oy and the subsidiary Intrade Partners Oy. The task of the S Group is to create services and benefits for its owner-customers. Retail sales totalled EUR 8,080 million, and profit before extraordinary items was EUR 321 million. Crosskey Banking Solutions in brief Crosskey Banking Solutions Ab develops, sells and maintains systems solutions for the financial services sector. The company originated as the banking software sales and development business area of the Bank of Åland (Ålandsbanken), which at the end of 2004 was turned into a limited liability company, Crosskey Banking Solutions, in order to make possible a continued expansion in the field of banking systems sales. Crosskey is a wholly owned subsidiary of the Bank of Åland and has 95 employees. Crosskey has three other customers based on previous contracts: the Bank of Åland, Tapiola Bank and DnB NOR. For further information, please contact: Peter Wiklöf, Managing Director, Crosskey Banking Solutions, tel. +358 204 291 225 Jari Seitsamo, Computer Manager, SOK, tel. +358 107 681 230