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EDB Business Partner ASA REPORT FOR THE FIRST QUARTER OF 2007

• Revenue growth of 18 percent compared to last year • Gaining share in Sweden; growth of 119 percent year-on-year • Growth in EBITA of 16 percent • Launch of unique public solution • Expanding nearshore initiative

(NOK million) Q1 2007 Q1 2006 2006

Operating revenue 1,583 1,341 5,822 Operating costs 1,441 1,218 5,281 Operating profit before amortisation (EBITA) 143 123 541

EBITA % 9.0 % 9.2 % 9.3 %

EBIT before non-recurring items 121 105 454

Profit before tax 96 94 257

Cash flow from operations before restructuring 54 65 709 Operational investment (CAPEX) 49 67 292

EPS (NOK) 0.74 0.74 2.47 No. of employees 3,798 3,359 3,849

EDB Business Partner reported operating revenue for the first quarter of 2007 of NOK 1,583 million as compared to NOK 1,341 million in the same quarter of 2006. The growth in revenue was 18 percent from the first quarter of 2006. After adjusting for businesses acquired, the group achieved organic growth in excess of 6 percent. Revenue for the IT Operations business area was NOK 1,015 million, equivalent to an organic growth of 5 percent from the first quarter of 2006. The Solutions business area reported revenue of NOK 309 million, representing organic growth of 2 percent from the same quarter of 2006. Application Services reported revenue of NOK 291 million for the quarter, an increase of NOK 180 million from NOK 111 million in the first quarter of 2006, which did not include Guide Konsult and DropIT. Pro forma revenue for the business area was NOK 248 million in the first quarter of 2006, giving year-on-year overall organic growth of 17 percent for the first quarter of 2007. The group reported operating profit before intangible asset amortisation (EBITA) of NOK 143 million for the first quarter of 2007, as compared to NOK 123 million for the same quarter in 2006. The group’s EBITA margin was 9.0 percent for the quarter as compared to 9.2 percent for the same quarter of 2006. The IT Operations business area produced an EBITA margin of 8.0 percent as compared to 8.2 percent in the first quarter of 2006. The Solutions business area's EBITA margin for the first quarter of 2007 was 13.8 percent as compared to 14.9 percent in the same quarter of 2006. The year-on-year change is due to a decline in revenue from maintenance contracts in the first quarter of 2007 following the completion of two major conversion projects in 2006. The Application Services business area reported an EBITA margin of 12.3 percent, as compared to an EBITA margin of 13.8 percent for the first quarter of 2006. Amortisation of intangible assets amounted to NOK 21 million in the first quarter of 2007 as compared to NOK 18 million in the first quarter of 2006. The increase in amortisation relates to NOK 4 million for software developed in-house where there was no equivalent amortisation in the first quarter of 2006. Amortisation is expected to remain at the same level over the next three quarters before taking to account amortisation relating to businesses acquired in 2007.

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Operating profit (EBIT) for the first quarter of 2007 was NOK 121 million as compared to NOK 105 million in the first quarter of 2006, representing an increase of 15 percent. Net financial expense was NOK 26 million in the first quarter of 2007, as compared to NOK 11 million in the same quarter of 2006. Net interest expense totalled NOK 25 million, up from NOK 9 million in the same quarter of 2006 as a result of higher interest rates in Norway and Sweden and the debt financing of the seven businesses acquired by EDB in the first half of 2006. The group reported profit after tax for the first quarter of 2007 of NOK 67 million, in line with the same quarter of 2006. Earnings per share amounted to NOK 0.74 for the first quarter 2007, equivalent to the first quarter of 2006. The group’s headcount decreased from 3,849 at 31 December 2006 to 3,798 at 31 March 2007 as a result of the restructuring process carried out by IT Operations. The reduction in headcount will be largely completed during the second quarter of 2007.

Cash flow and liquidity Cash flow from operations, before payments related to restructuring measures, was NOK 54 million in the first quarter of 2007 as compared to NOK 65 million in the same quarter of 2006. As a result of the improvement in consolidated earnings over recent years, the company moved into a tax-paying position in Norway in 2006, and the change in cash flow from operations reflects tax payments in 2007 as well as interest payment in respect of acquisitions completed in 2006. Cash flow from operations related to restructuring totalled NOK 49 million in the first quarter of 2007, bringing total payments to NOK 90 million of the restructuring provision totalling NOK 144 million charged in third quarter 2006. Net interest-bearing liabilities totalled NOK 1,830 million at 31 March 2007, an increase of NOK 74 million from the previous quarter. The change principally reflects the final payment of performance- based additional consideration ("earn-out") totalling NOK 67 million in connection with acquisitions completed in 2006. In the first quarter of 2007, the group refinanced NOK 400 million of a long-term loan facility arranged in December 2004. The new long-term multi-currency revolving credit facility has an overall limit of NOK 800 million and maturity of 5 years. At 31 March 2007, the group’s liquidity reserves totalled NOK 1,025 million, representing an increase of NOK 318 million from the end of 2006. Undrawn credit facilities accounted for NOK 891 million.

Investment Investment in operational fixed assets amounted to NOK 49 million in the first quarter of 2007 as compared to NOK 67 million in the same quarter of 2006. Investment spending principally related to customer contracts, as well as some maintenance and improvement investment in respect of existing operations.

Costs of NOK 19 million in respect of developing and upgrading software for Public Sector and Bank & Finance verticals within Solutions business area were capitalised as intangible assets in the first quarter of 2007 as compared to NOK 6 million in the same quarter of 2006. Capitalised development costs for in-house software totalled NOK 109 million at 31 March 2007.

Order backlog The group’s order backlog amounted to NOK 11,082 million at 31 March 2007, representing a net increase of NOK 94 million from 31 December 2006. Of this backlog, 59 percent will be recognised as revenue during 2007 and 2008. IT Operations reported a reduction in order backlog of NOK 75 million to NOK 9,075 million. The Solutions business area increased its order backlog by NOK 151 million to NOK 1,817 million and Application Services increased its order backlog by NOK 18 million to NOK 190 million.

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The group’s business areas

IT Operations IT Operations business area comprises network services, operation of infrastructure and applications, security services and user support, as well as electronic business support services such as invoice management, payment services, messaging and printing. The activities of the IT Operations business area cover all industries and sectors, and it operates in Norway and Sweden.

(NOK million) Q1 2007 Q1 2006 2006

Operating revenue 1,015 955 3,859

Cost of goods sold 393 344 1,401 Salaries and related costs 311 311 1,207 Ordinary depreciation 66 67 276 Other operating costs 164 155 638 Total operating costs 935 877 3,522

Operating profit before amortisation (EBITA) 81 78 336

EBITA % 8.0 % 8.2 % 8.7 %

Operational investment (CAPEX) 38 50 239 No. of employees 1,799 1,965 1,847

The IT Operations business area reported operating revenue of NOK 1,015 million for the first quarter of 2007 as compared to NOK 955 million in the same quarter of 2006. This represents revenue growth for the business area of 6 percent from last year. After adjusting for the acquisition of Datarutin in the first quarter of 2006, IT Operation shows organic growth of 5 percent, due in part to higher project deliveries to Apoteket AB in Sweden. Cost of goods sold was higher than in the first quarter of 2006 due to increased purchases for the contract with Apoteket AB as well as the Datarutin activities acquired. Despite the positive effect of the restructuring that has been carried out, salaries and related personnel costs were at the same level as in the first quarter of 2006 mainly due to the effect of businesses acquired. Operating profit before intangible asset amortisation (EBITA) was NOK 81 million in the first quarter of 2007, as compared to NOK 78 million in the first quarter of 2006. EBITA margin for the first quarter was 8.0 percent, as compared to 8.2 percent in the first quarter of 2006. Operational investment fell by 24 percent to NOK 38 million as compared to NOK 50 million in the first quarter of 2006 as a result of lower customer-related investment spending. The business area's headcount has reduced by 8.5 percent since the first quarter of 2006 as a result of the restructuring carried out.

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Solutions

The Solutions business area offers a complete range of software and consulting services for the Nordic banking and finance sector. The business area also serves the Norwegian public sector with solutions for Norwegian municipalities, health authorities and national public sector entities. The public sector vertical in Sweden supplies document handling solutions.

(NOK million) Q1 2007 Q1 2006 2006

Operating revenue 309 303 1,215

Costs of goods sold 36 30 154 Salaries and related costs 140 141 530 Ordinary depreciation 3 311 Other operating costs 88 84 339 Total operating costs 267 258 1,035

Operating profit before amortisation (EBITA) 43 45 180

EBITA % 13.8 % 14.9 % 14.8 %

Operational investment (CAPEX) 0 313 No. of employees 823 862 831

The Solutions business area reported operating revenue of NOK 309 million in the first quarter of 2007 as compared to NOK 303 million in the same quarter of 2006, representing organic growth of 2 percent. The Bank & Finance vertical produced organic growth of 4 percent, while the Public Sector vertical reported revenue in line with the same quarter of 2006. Cost of goods sold and other operating expenses increased between the first quarter of 2006 and the first quarter of 2007 as a result of major purchases of card blanks by TAG Systems, as well as the use of external consultants on certain projects. The business area produced an operating profit before intangible asset amortisation (EBITA) of NOK 43 million for the first quarter of 2007 as compared to NOK 45 million for the equivalent quarter of 2006. EBITA margin for the first quarter was 13.8 percent, as compared to 14.9 percent in the first quarter of 2006. The year-on-year change is due to a decline in revenue from maintenance contracts in the first quarter of 2007 following the completion of two major conversion projects in 2006. Costs of NOK 9.1 million that incurred on developing in-house software for the Bank & Finance vertical were capitalised in the first quarter of 2007. The Public Sector area commenced work in the first quarter 2007 on a project to establish EDBs new solutions suite for public sector entities in local government and the health sector using SAP-based solutions. Investment spending in the first quarter of 2007 on this project together with work on upgrading existing solutions for the public sector totalled NOK 10 million. Amortisation of completed software totalled NOK 4 million in the first quarter 2007 and is expected to amount to NOK 15 million over the remainder of 2007. On 23 February 2007, EDB entered into an agreement to buy the Swedish card processing company CEKAB, which is one of the leading Nordic companies for handling card transactions from ATMs and payment terminals. CEKAB has 52 employees and is located in Stockholm. The company reported revenue of SEK 134 million for 2006. CEKAB will be consolidated into the Solutions business area with effect from the second quarter of 2007.

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Application Services EDB established the Application Services business area in the first quarter of 2006 in connection with the acquisitions of Avenir, DropIT, Guide Konsult, Software Technology Integration (STI) and Spring Consulting. These businesses have extensive expertise in SAP, Microsoft, IBM and Oracle technology, as well as in project management, systems development and systems integration, in addition to customising and implementing standard systems.

(NOK million) Q1 2007 Q1 2006 2006

Operating revenue 291 111 862

Costs of goods sold 34 11 58 Salaries and related costs 192 76 561 Ordinary depreciation 0 0 2 Other operating costs 29 9 150 Total operating costs 255 96 771

Operating profit before amortisation (EBITA) 36 15 90

EBITA % 12.3 % 13.8 % 10.5 %

Operational investment (CAPEX) 1 0 5 No. of employees 983 365 976

The Application Services business area reported operating revenue of NOK 291 million in the first quarter of 2007 as compared to NOK 111 million in the same quarter of 2006. Of the total revenue growth of NOK 180 million, NOK 137 million came from Guide Konsult and DropIT, which were not consolidated until the second quarter of 2006. The Application Services business area achieved organic growth of 17 percent. Cost of goods sold principally relates to consultancy services supplied by subcontractors, while other operating costs is related to the business area's own employees. Total operating expenses amounted to NOK 255 million in the first quarter of 2007 as compared to pro forma NOK 213 million in the same quarter of 2006. The increase of 20 percent reflects the use of subcontractors to deliver part of the revenue growth. Application Services business area, in common with other parts of the IT consulting market, has faced some difficulty in recruiting sufficient number of consultants without exposing future profitability and this supports increased use of subcontractors. The business area produced operating profit before intangible asset amortisation (EBITA) of NOK 36 million for the first quarter of 2007, representing an EBITA margin of 12.3 percent. This is an improvement from pro forma EBITA of NOK 35 million for the first quarter of 2006. The average billable utilisation for Application Services in the first quarter of 2007 was 83.1 percent for 796 billable consultants, as compared to 77.5 percent for the same quarter in 2006. Of the total of 983 employees, 655 work in Sweden and 18 in Denmark as of 31 March 2007. On 30 January 2007, EDB Business Partner entered into an agreement to acquire 60 percent of the Ukrainian IT company Infopulse Ukraine LLC. Infopulse has 300 highly qualified employees with long term experience of nearshore assignments for Western European and American customers. The company reports solid profitability, and achieved revenue growth in excess of 50 percent in 2006 to around NOK 40 million. The company will be consolidated from the second quarter of 2007 into the Application Services business area. In early April 2007, EDB entered into an agreement through its subsidiary Guide Konsult AB to acquire the Swedish IT consulting firm Tre60 AB. Tre60 is a Swedish IT consulting firm with 45 employees that specialises in business intelligence (BI) consulting. In 2007 the company is expected to generate operating revenue in the order of SEK 50 million with an EBITA margin in line with the Application Services business area, into which it will be consolidated from the second quarter of 2007.

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Support functions

Support functions not allocated to individual business areas represented an operating loss before intangible asset amortisation (EBITA) of NOK 17 million in the first quarter of 2007, as compared to a loss of NOK 16 million in the first quarter of 2006.

Other matters EDB implemented a new share option scheme for key personnel at the Annual General Meeting held on 10 May 2006. The Board of EDB was authorised to allocate up to 2.7 million options subject to a 3-year vesting period. The Board of Directors allocated 360,000 options in the first quarter of 2007 at an average share price of NOK 56.67. When options under this scheme are exercised, shares will be transferred from the company's holding of its own shares. The earliest date for the exercise of the first one-third of the options from this option scheme will follow the publication of the second quarter 2007 interim report. A total of 1,850,000 options have been granted under the terms of this scheme. In response to the Norwegian government's Report on Government Ownership, EDB’s main shareholder has notified the Board of Directors of EDB that it does not wish to see new share options granted, but that option agreements already entered into can be carried out. The Board of EDB Business Partner ASA will submit proposals for consideration by the Annual General Meeting in accordance with this request. There are 75,000 options outstanding from the previous option scheme. 166,752 options granted under this scheme were exercised in the first quarter of 2007. Options outstanding at 31 March 2007 totalled 1,925,000. NOK 1.4 million was charged to profit and loss in the first quarter of 2007 in respect of the accrued value of the options granted, including estimated employer's social security contribution. The total amount was allocated between the parent company and the relevant business areas.

EDB Business Partner implemented IFRS accounting on 1 January 2005. This interim report is published in accordance with the accounting standard for interim reporting.

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Future prospects

In an updated forecast issued in April 2007, IDC reaffirmed its view that the Nordic IT services market will show annual growth in the order of 5 percent through to 2010. Demand is strongest for application services and solutions, while outsourcing continues to show moderate growth. This is supported by examples of some larger outsourcing contracts out to tender, as well as good growth in small and medium-sized contracts. Outsourcing accounts for 40 percent of the IT services market. EDB is a significant player in this segment, and the company is well positioned to grow in pace with or faster than the market as a whole.

The Solutions business area has invested in renewing its product portfolio, and is systematically focusing on expanding its presence with larger Nordic customers. Both initiatives are important for the business area in order to maintain sound organic growth in the market characterised by willingness to invest in IT.

At the start of 2007, a new product strategy for the public sector was launched, where EDB will continue with its own solutions in partnership with SAP. This will ensure that EDB has a competitive offer for the public sector in the years to come. The public sector accounts for 30 percent of the IT services market, and it is important for EDB to expand its offer for this segment.

The Application Services business area is continuing to generate sound organic growth. Work on expanding its services offer and winning new customers has delivered results, and has contributed to the growth reported. The business area saw a good response to its recruiting campaign in the first quarter, but is taking a selective approach to avoid creating unnecessary cost pressure.

In January 2007, EDB announced a major investment in sourcing IT services from low-cost countries (offshore/nearshore), which included the acquisition of Infopulse in the Ukraine. EDB launched a number of projects in collaboration with Infopulse in the first quarter. In addition, further projects have been identified that will be launched over the course of 2007. Use of nearshore resources will help to secure EDB's competitiveness and create additional delivery capacity for a Nordic IT market that is characterised by a shortage of resources.

EDB has announced agreements since the start of the year to acquire two companies in Sweden that will strengthen the company's position in segments with good growth. EDB's activities in Sweden accounted for 30 percent of the group’s first quarter revenue. Sound market growth and the acquisitions mentioned will contribute to ensure that the Swedish activities will continue to generate an increasing part of the group's total revenue.

Oslo, 18 April 2007 The Board of Directors of EDB Business Partner ASA

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EDB Business Partner

Analysis by business area (NOK mill)

Operating revenue: Q1'07 Q1'06 2006 Q4'06 Q3'06 Q2'06 Q1'06 Q4'05 Q3'05 Q2'05 Q1'05

IT Operations 1,015 955 3,859 1,004 925 974 955 973 920 962 944 Solutions 309 303 1,215 319 271 322 303 316 264 306 256 Application Services * 291 111 862 300 202 249 111 Netting/Other -33 -29 -113 -34 -28 -21 -29 -20 -21 -21 -21 Total group 1,583 1,341 5,822 1,588 1,370 1,523 1,341 1,269 1,163 1,247 1,180

Operating profit before amortisation (EBITA): Q1'07 Q1'06 2006 Q4'06 Q3'06 Q2'06 Q1'06 Q4'05 Q3'05 Q2'05 Q1'05

IT Operations 81 78 336 92 85 81 78 91 86 85 82 Solutions 43 45 180 45 41 50 45 63 50 64 39 Application Services * 36 15 90 39 12 24 15 Staff / Not allocated -17 -16 -66 -17 -16 -16 -16 -16 -14 -15 -13 Total group 143 123 541 159 122 138 123 138 122 134 108

Operating margin: Q1'07 Q1'06 2006 Q4'06 Q3'06 Q2'06 Q1'06 Q4'05 Q3'05 Q2'05 Q1'05

IT Operations 8.0 % 8.2 % 8.7 % 9.2 % 9.2 % 8.3 % 8.2 % 9.4 % 9.4 % 8.9 % 8.7 % Solutions 13.8 % 14.9 % 14.8 % 14.0 % 15.1 % 15.5 % 14.9 % 20.0 % 18.9 % 20.8 % 15.2 % Application Services * 12.3 % 13.8 % 10.5 % 13.0 % 6.1 % 9.5 % 13.8 % Total group 9.0 % 9.2 % 9.3 % 10.0 % 8.9 % 9.1 % 9.2 % 10.9 % 10.5 % 10.8 % 9.2 % * Pro forma key figures 1st quarter 2006: Revenues: NOK 248 mill, EBITA: NOK 35 mill, EBITA margin: 14,2%

Order backlog by business area (NOK mill)

ORDER BACKLOG DISTRIBUTED Order backlog NOK million 31/3/2007 2007 2008 2009 2010 Later

IT Operations 9,075 2,278 2,956 2,110 1,350 381 Solutions 1,817 678 508 362 183 86 Application Services 190 190 Total order backlog 11,082 3,146 3,464 2,472 1,533 467 % of total 28% 31% 22% 14% 4%

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EDB Business Partner

Profit and loss account

(NOK million) Q1 2007 Q1 2006 2006 Operating revenue 1,583 1,341 5,822 Cost of goods sold 465 385 1,615 Salaries and related costs 685 576 2,447 Other operating costs 215 183 908 Operating profit bef. depreciation (EBITDA) 218 197 853 Ordinary depreciation 76 75 311 Operating profit bef. amortisation (EBITA) 143 123 541 Non-recurring costs 0 - 144 Amortisation of intangible assets 21 18 87 Operating profit (EBIT) 121 105 310 Net financial items -26 -11 -53 Ordinary profit before tax (EBT) 96 94 257 Tax -28 -27 -34 Minority interests - - 0 Profit after tax 67 67 224

Balance sheet

(NOK million) 31/03/07 31/03/06 31/12/06 Goodwill 3,051 2,491 3,088 Other intangible assets 330 216 360 Tangible fixed assets 676 707 711 Financial fixed assets 28 30 29 Total fixed assets 4,085 3,444 4,188 Accounts receivable 843 678 896 Other current receivables 619 578 491 Cash and cash equivalents 134 78 302 Total current assets 1,596 1,334 1,690 Total assets 5,681 4,778 5,878

Equity 1,955 1,840 1,888 Minority interests 1 01 Total equity 1,956 1,840 1,889 Provisions 564 565 561 Other interest bearing liabilities 1,943 1,137 1,890 Total long-term liabilities 2,507 1,702 2,451 Accounts payable 164 160 255 Duties payable, vacation allowance 522 491 499 Other non-interest bearing liabilities 509 426 616 Interest bearing liabilities 22 159 168 Total current liabilities 1,217 1,236 1,538 Total equity and liabilities 5,681 4,778 5,878

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EDB Business Partner

Cash flow analysis

(NOK million) Q1 2007 Q1 2006 2006 EBITDA 218 197 853 Net taxes / financial items paid -59 -11 -102 Change in accounts receivable 11 -3 -135 Change in accounts payable -144 -139 14 Change in other accruals 27 20 80 Operational cash flow before non-recurring items 54 65 709 Change in restructuring provision -49 -9 -63 Net cash flow from operations 4 56 646 Operational investment -49 -67 -292 In-house developed software paid -19 -6 -76 Acquisition of businesses -70 -625 -1,274 Sale of businesses - -2 4 Net cash flow from investments -139 -700 -1,636 Debt repayment -444 -103 -398 New borrowing 400 558 1,578 Dividends paid - - -91 Share issues 8 21 -17 Net cash flow from financing -37 476 1,073 Net change in liquid assets -171 -169 82 Cash and bank deposits at start of period 302 245 245 Currency translation diff. cash and bank dep. 3 1 -25 Cash and bank deposits at end of period 134 78 302

Key figures

Q1 2007 Q1 2006 2006 Key figures per share (NOK): Earnings per share 0.74 0.74 2.47 Diluted earnings per share 0.74 0.72 2.44 EBITDA per share 2.40 2.17 9.41 Cash from operations b/f non-recurring items 0.59 0.71 7.83 Other key figures: EBITDA-margin 13.8 % 14.7 % 14.6 % EBITA-margin 9.0 % 9.2 % 9.3 % Return on invested capital (ROIC) 13.5 % 16.1 % 14.6 % Net working capital 267 179 18 Working capital in % of revenue 4.2 % 3.3 % 0.3 % Equity ratio 34% 39% 32% Gearing 0.94 0.66 0.93 Net interest bearing debt (NOK mill) 1,830 1,218 1,756

Average number of shares 90,749,808 90,856,929 90,615,314 Average number of shares incl. dilution 90,857,660 94,196,478 91,518,117

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EDB Business Partner

Reconciliation of changes in equity before minority interests

(NOK million) 31/03/07 31/03/06 31/12/06 Equity at 01.01. 1,888 1,751 1,751 Profit for the year 67 67 224 Dividends - - -91 Option scheme employees 2 2 -18 Trade in own shares - - -19 Capital increase 8 21 27 Restatement differences -10 -1 13 Equity at end of period 1,955 1,840 1,888

First quarter report 2007