Financial Objects secure £1m activebank contract win with the Swedish National Debt office

London, January 11, 2005 – Financial Objects plc announces that under EEC procurement rules it has entered into a new £1m contract to install its activebank software at Riksgaldskontoret (RGK), the Swedish National Debt Office. The contract was secured through Financial Objects' Swedish partner, by way of a public EEC tender. As such, it represents the second major contract in 2004 to have been secured through the Company's partner programme.

The contract is initially worth £540,000 to Financial Objects. A five year maintenance agreement has also been entered into over and above the initial contract value. Under the terms of the agreement, the Swedish partner will be providing the majority of on-site delivery, with Financial Objects supplying product and modifications. This is fully inline with Financial Objects’ strategy with their Partners

Peter Watts, Director responsible for the ActiveBank Division said, "this has been a tough procurement under the EEC regulations but is a very good win for us. It highlights the strength of our partnership with our local partner and the strength of the product in the Swedish market place."

Aggie Ohman, Project Manager at SNDO says that "this has been a long process for the Swedish National Debt Office and we are now very keen to embark on the project."

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