November 15, 2006

ITC Infotech inaugurates development centre for Danske Bank

ITC Infotech India Limited, a global IT services company, today inaugurated a dedicated Development Centre India (DCI) for one of its key customers, Danske Bank. Danske Bank, part of the DKr 2.432 billion Danske Bank Group, is the largest bank in Denmark and a leading player in the Scandinavian financial markets. The DCI was inaugurated by Erik Andreasen, Senior Vice President, Danske Bank.

This dedicated DCI, at the ITC Infotech Park in Bangalore, will act as a virtual extension of the bank’s IT division and support Danske’s business across Northern Europe. The DCI has been set up in 120 days at an investment of Rs 3.75 crore.

Commenting on the occasion, Mr. Andreasen said, “Our expansion in international markets necessitates aligning our systems on an ongoing basis. We need scalable IT services and support to ensure operational efficiency. We have found a reliable partner in ITC Infotech and trust that we will soon build a sizeable overseas resource base”.

The engagement will focus around development and support of Danske Bank’s systems. The development center will provide these services across a full range of technology capabilities including IBM Mainframe, PeopleSoft HRMS, Front end applications on the Microsoft platform (.NET) and Lotus Notes based applications.

Speaking at the inauguration, Sanjiv Puri, Managing Director, ITC Infotech Ltd, said, “This opening is a major milestone in our relationship with Danske Bank, which began in July 2006. A dedicated DCI ensures greater flexibility and scalability; thereby enabling us to expand our service offerings going forward.” Mr. Puri further added, “BSFI is a key focus area and we constantly endeavor to work seamlessly with clients. The development centre is a significant testament of our commitment towards establishing an extended enterprise for our customers and providing business friendly solutions to clients.”

The company also announced opening an office in Denmark. The Denmark office will target ITC Infotech’s growing operations in Europe and support clients in the Nordic region.

ITC Infotech has been increasingly establishing key partnerships across Europe. The company recently signed a five year multi- million Euro contract with Finnair for CRM Implementation.

About Danske Bank

Danske Bank is the largest bank in Denmark and a leading player in the Scandinavian financial markets. The Danske Bank Group – which includes Danske Bank, BG Bank, Realkredit Danmark, Danica Pension and a number of subsidiaries – offers a wide range of financial services, including insurance, mortgage finance, asset management, brokerage, real estate and leasing services. In Denmark, Norway, Sweden, Northern Ireland and the Republic of Ireland, the Group serves 3.5 million retail customers and a significant part of the corporate, public and institutional sectors. It also has a large number of international corporate clients, particularly in the northern European markets. Some 850,000 customers use the Bank`s online services. Danske Bank also has branches in London, Hamburg, Helsinki and Warsaw. A subsidiary in Luxembourg with representative offices in France and Spain specializes in private banking services. In 2005, Danske Bank acquired Northern Bank in Northern Ireland and National Irish Bank in the Republic of Ireland. The former has 95 branches and the latter 59. The Danske Bank Group recently signed an agreement to purchase all the shares of Sampo Bank for a cash amount of DKr30.1bn.

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