LogicaCMG’s CLS Manager Selected to Support Third Party CLS Business

BOSTON – October 4, 2007 from Sibos Conference - LogicaCMG, a major international force in IT and business services, has won a contract to supply LogicaCMG CLS Manager (LCM) to Danske Bank A/S to help the bank expand its third party Continuous Linked Settlement (CLS) capability for corporate and institutional clients.

Danske Bank A/S is the largest bank in Denmark and a leading player in the Scandinavian financial markets.  The Danske Bank Group offers a wide range of financial services, including insurance, mortgage finance, asset management, brokerage, real estate and leasing services.  It also has a large number of international corporate clients, particularly in the northern European markets.

CLS is the world’s largest system for the settlement of foreign exchange transactions finally and irrevocably. CLS eliminates settlement risk, improves liquidity management, reduces operational banking costs and improves operational efficiency and effectiveness.

LogicaCMG CLS Manager (LCM) supports CLS member banks and their third parties in the control, reconciliation and automation of their CLS business.

LCM provides the bank with a thin-client, browser-based solution which can be easily deployed in third parties around the globe to support their CLS processing. LCM is already in use in a number of CLS settlement banks with a truly global presence.  Danske Bank A/S chose LCM for its ease of deployment and rich functionality and because of its highly configurable front end, which can be easily changed in line with their corporate style.

Since the launch of the CLS system in 2002, the services being offered through CLS continue to expand with the introduction of new instruments such as Non Deliverable Forwards and Option Premiums.  These services, together with ever-increasing volumes of trades being settled through CLS, mean that the value of shared maintenance and development has never been greater. 

LogicaCMG continues to expand and enhance the LCM product to ensure that its clients are able to take advantage of these new services as soon as they become available.

Tim Brew, sales director of LogicaCMG’s Global Products Unit, said, “We are delighted that Danske Bank has chosen LCM as the platform to extend and grow its CLS business.  Clearly the combination of LogicaCMG’s product solutions and CLS experience together with our proven deployment strategy will provide an excellent low-risk, highly functional solution for the bank.”

NOTES TO EDITORS

About LogicaCMG

LogicaCMG is a major international force in IT and business services. It employs around 40,000 people across 41 countries. LogicaCMG’s focus is on enabling its customers to build and maintain leadership positions using LogicaCMG’s deep industry knowledge and its track record for successful delivery. The company provides business consulting, systems integration and IT and business process outsourcing across diverse markets including telecoms and media, financial services, energy and utilities, industry, distribution and transport and the public sector. Headquartered in Europe, LogicaCMG is listed on both the London Stock Exchange and Euronext (Amsterdam) (LSE: LOG; Euronext: LOG) and traded on the Xternal List of the Nordic Exchange in Stockholm. More information is available at www.logicacmg.com

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Alex Bell                                                                                               Tom Burke

Citigate Dewe Rogerson                                                                Graber Associates

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Alexandra.bell@citigatedr.co.uk                                                tom@graberassciates.net