ABN AMRO starts exclusive talks on IT outsourcing within WCS

Issued by EDS South Africa
Johannesburg, 23 Aug 2002

ABN AMRO today announces that it has entered into exclusive negotiations with EDS on a major IT outsourcing contract for its wholesale activities (WCS).

This is the latest stage in a project to transform technology service provision within WCS. Upon completion, the contract will cover the provision of technology services and applications development in the major countries in which WCS operates.

The total value of the contact is expected to be at least EUR1.5 billion based on a five-year period.

Discussions with employee representative bodies on the implications of the project will start in due course. Contract negotiations are expected to conclude during the fourth quarter of 2002, at which point further details will be announced.

EDS statement on ABN AMRO announcement

EDS today confirmed it has been downselected by and is in exclusive final contract discussions with ABN AMRO Bank N.V.`s Wholesale banking unit to provide information technology services. The bank estimates the contract value will be in excess of EUR1.5 billion (US$1.5 billion) over five years.

The proposed contract will rank among the largest IT agreements in the history of the banking industry, and among the largest agreements in the IT services industry this year.

EDS is the global leader in deploying technology for financial institutions. The company`s work in the worldwide financial services industry accounted for about 17% of the company`s revenue last year. More than 10 000 EDS employees work on finance-related projects in 29 countries for such customers as Lloyds TSB, KBC, Royal Bank of Scotland, Banca di Roma, Deutsche Bank, Bank One, Commonwealth Bank Group, Abbey National and Korea First Bank.

ABN AMRO

ABN AMRO is one of the world`s largest banks with total assets of more than US$620 billion and a presence in over 60 countries. Its activities are grouped into three strategic business units: Wholesale Clients, which provides integrated corporate and investment banking services to corporate, institutional and public sector clients worldwide; Consumer and Commercial Clients, which focuses on retail and SME clients in a number of core markets; and Private Clients and Asset Management, which focuses on private banking and fund management clients.

EDS

EDS, the leading global services company, provides strategy, implementation, business transformation and operational solutions for clients managing the business and technology complexities of the digital economy. EDS brings together the world`s best technologies to address critical client business imperatives. It helps clients eliminate boundaries, collaborate in new ways, establish their customers` trust and continuously seek improvement. EDS, with its management consulting subsidiary, AT Kearney, serves the world`s leading companies and governments in 60 countries. EDS reported revenues of $21.5 billion in 2001. The company`s stock is traded on the New York Stock Exchange (NYSE: EDS) and the London Stock Exchange. Learn more at www.eds.com.