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Itera Regulatory Filings 2011

Jan 10, 2011

3639_rns_2011-01-10_58b2ae28-8ed0-4fd8-a4ca-00cbca251b1a.html

Regulatory Filings

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Aktiv Kapital extends contract with Itera

Oslo, 10 January 2011: Aktiv Kapital has extended its

long-term customer relationship with Itera Networks

with further three years. The contract is worth

approx. NOK 22 million and includes a significant

expansion of the existing cooperation.

Aktiv Kapital wants to join the technology platform

for its entire European operations, and has signed an

agreement where Itera Networks will be responsible

for its central IT operations. Itera Networks has

operated Aktiv Kapital's global platform (IT shared

services) since 2007, and the new agreement will also

include the operation of the decentralized

infrastructure of Aktiv Kapital's offices in Europe.

With Itera Networks in charge of central IT

operations will streamline IT operations, realize

synergies, and create greater flexibility in the

organization. This is expected to increase the IT

productivity, simplify the implementation of changes,

and reduce risk.

- Itera Networks has been an important partner in

building Aktiv Kapital's central platform. During the

three years Itera has been our operating partner,

they have helped with infrastructure and operations

within data warehousing, intranet and common ERP

system for the entire group, to name a few. Itera is

providing skilled, dedicated resources, and delivers

robust technical solutions. They meet our high

standards of competence, quality and availability,

says Jan Husby CIO at Aktiv Kapital.

- We are proud that Aktiv Kapital has both extended

and expanded the existing agreement with us. We offer

a solid platform that provides reliability and

flexibility. The company's wish to stay with us for

three more years is a good sign that we meet their

expectations. We look forward to further cooperation

with Aktiv Kapital, says Tone Håfjeld, Sales and

Marketing Director at Itera Networks.

For more information, please conact:

Tone Håfjeld, Sales and Marketing Director, Itera

Networks

Mobile +47 926 08 009

[email protected]

Jon Erik Høgberg, Chief Executive Officer, Itera

Networks

Mobile + 47 900 96 974

[email protected]

Jan Husby, Chief Information Officer, Aktiv Kapital

Mobile +47-4000 2040

[email protected]

About Aktiv Kapital

Aktiv Kapital is headquartered in Oslo and has

operations in nine different countries. The Aktiv

Kapital Group is among the largest investors in non-

performing debt portfolios in Europe and Canada.

Aktiv Kapital had in 2009 a turnover of NOK 1190

million and 430,000 paying customers. The company is

listed on the Oslo Stock Exchange (AIK).

About Itera

Itera designs, builds and manages innovative digital

solutions and services to Nordic based businesses

where smart use of information technology is a key

driver to achieve business goals. The group will be

the best supplier in driving rapid conversion of

business opportunities for our customers. Itera's

customers are strong Scandinavian businesses such as

bank and insurance, telecom, media and high-tech,

public sector and health. Itera consists of about 400

employees working in offices in Norway, Sweden,

Denmark and Ukraine. The company is listed on the

Oslo Stock Exchange under the ticker symbol ITE.

About Itera Networks

Itera Networks, an Itera company, provides services

in consulting, infrastructure and IT operations to a

wide range of businesses based in Norway and Sweden.

The company has approximately 100 employees and has

had a solid double-digit profitable growth for five

years in a row. Through the Nordic operations

organization and service desk, services are available

to businesses regardless of geography.