Standard Bank Signed a New Technology Services Agreement With IBM

Standard Bank’s Argentine branch signed a technology services agreement with IBM (NYSE: IBM) which includes hosting, operation and recovery services as well as hardware provision to help the bank update its technology processes.

The new agreement covers mainframe, disk drives, tape, recovery services featuring dedicated and enhanced equipment, SNA network operation, and Web Hosting services also provided with new, larger capacity equipment. In addition, this contract led to the signing of an agreement for the purchase and support of distributed software licenses which include IBM Information Management, Tivoli and WebSphere products.

This will enable Standard Bank to continue applying its resources to strategic activities, focus on its transformation and growth process, as well as predict and reduce IT operations’ related costs.

This agreement was signed in June of 2007.

About Standard Bank

The Standard Bank Group Limited (“Standard Bank”) is Africa’s leading banking and financial services group, with assets of approximately US$165 billion and over 45,000 employees in 38 countries across the globe.

It leverages its pioneering heritage and experience of resource banking and emerging markets in Africa to offer banking and financial services in developing economies throughout the world, and is committed to making a real difference wherever it operates.

Standard Bank’s principal international investment banking subsidiary is Standard Bank Plc (SB Plc) whose main activities involve sourcing and structuring capital markets, and trade and project-related transactions. It also provides advisory, financing, hedging and commodity trading services.

SB Plc is authorized and regulated by the Financial Services Authority. It is a member of the London Stock Exchange, the London Bullion Market Association, the London Metal Exchange, the London Platinum and Palladium Market and the New York Mercantile Exchange (COMEX Division). Through its branch in Tokyo, it is also an Associate Member of the Tokyo Commodities Exchange (TOCOM).