Telecomputing ASA: Telecomputing Enters IT-Operation Agreement with SN Power Worth MNOK 50

Regulatory News:

TeleComputing (OSE:TCO) has entered a global, 5 year IT-operation agreement with SN Power, a leading international hydropower company owned by Statkraft and Norfund. The agreement means that TeleComputing will have the responsibility for establishing a new IT solution for the companies’ users and offices in order to meet SN Power’s need for a global, common IT platform. The solution, which is based on TeleComputings’ centralized, "one-to-many” IT platform, will support SN Power’s requirement for efficient information sharing and co-operation across continents and national borders. The initial order value is approximately MNOK 50.

By establishing a new, centralized IT-operation solution for their users and offices, SN Power will benefit from the same centralized IT services and tools which TeleComputing offers its 50.000 users every day. The new IT-operation solution also means that SN Power will be able to take advantage of some of TeleComputing’s advanced services, such as TeleComputing Managed Client, cost efficient operation of local client- and print environment, TeleComputing Managed WAN, a communication solution based on private networks with high availability and security and TeleComputing Managed Video, a unique netcentric service for flexible delivery of high quality video conference.

- We depend on a flexible, stable and secure IT-network to co-ordinate our internal resources and activities in the best possible way. Our business sector is about knowledge and competence related to renewable energy. SN Power needs a global IT platform to organize and prepare the necessary knowledge and information exchange across national borders. TeleComputing is the partner we need to take responsibility for the design, preparation and management of a common IT-platform with high stability and quality which enable our users IT access regardless of where they are in the world, says Anders Gustavsen, IT director in SN Power.

Anders Gustavsen continues to say that ”TeleComputing was chosen in strong competition with international Offshoring alternatives”.

SN Power is a growing international hydropower company and is a commercial investor, developer and operator of hydropower projects in emerging markets. SN Power and its subsidiaries had 475 employees worldwide at year-end 2008.

- This agreement is very important and stimulating to us. The new IT-solution will be based on our common IT-platform which today delivers more than 1100 different applications to more than 800 business customers with approximately 50.000 users. The agreement also confirms that our flexible and scalable IT-solutions are attractive for international companies with presence in many countries. We are proud that SN Power has chosen us as their partner for their IT-operation delivery to the company’s global business units and offices and will do our utmost to ensure that they will enjoy all the benefits that our solutions can provide, says Sven Tore Kaasa, CEO in TeleComputing.

About TeleComputing

TeleComputing is a leading supplier of cloud computing, centralized IT OnDemand solutions and outsourcing to the Nordic SMB market. Kentor, a systems integrator subsidiary, offers qualified industry- and business systems specialists, system development and IT consulting. TeleComputing has 700 employees and 800 business customers in the Nordic countries. TeleComputing ASA is listed on the Oslo Stock Exchange under the ticker code TCO. For more information, please visit: www.telecomputing.com.

About SN Power

SN Power is a growing international hydropower company and is a commercial investor, developer and operator of hydropower projects in emerging markets. SN Power was established in 2002 as a Norwegian limited company owned by Statkraft (50%) and Norfund (50%). According to an agreement concluded between the owners in 2008, Statkraft increased its share to 60% while Norfund reduced its holdning to 40% from January 2009. SN Power is headquartered in Oslo, Norway, and currently operates hydropower plants in South America and Asia and is expanding into Africa through a separate subsidiary. For more information, please visit: www.snpower.no.

This information was brought to you by Cision http://www.cisionwire.com