Tieto Corporation STOCK EXCHANGE RELEASE 28 June 2010, 8.30 am EET If P&C Insurance has concluded a new five-year IT services agreement with Tieto as a one-stop supplier. The contract includes operations management services for If's IT systems in the Nordic countries. If is the leading property and casualty insurance company in the Nordic region, with about 3.6 million customers in the Nordic and Baltic countries and operations in Russia as well. The total value of the contract is approximately EUR 160 million. The delivery will be made in co-operation with Atea, who will contribute as a subcontractor on client services in end user services. The co-operation between If and Tieto goes back to 2001, and at that time it covered only Finland. During 2005, the co-operation expanded and If outsourced its server operations and end user services in the Nordic countries to Tieto. The new agreement will increase the use of Tieto's standard capacity services in If's business critical service delivery and thus the service will be even more flexible and cost-efficient for If. Adam Harhoff, CEO of If IT Services, says: "Tieto has shown a strong commitment to ensure that IT operations are working well for If. With the new agreement Tieto has taken Atea as their delivery partner, to strengthen the total delivery. In this way Tieto demonstrates strategic alignment and focus on If's needs and ambitions. We are looking forward to continuing our relations and improving our IT operations and infrastructure." Per Johanson, Executive Vice President at Tieto Financial Services, says: "We're proud of the trust in us that If has shown, and look forward to developing this partnership further. For Tieto, this agreement means strengthening our position as the leading Nordic outsourcing partner for the Financial Services industry." For further information please contact: Per Johanson, Executive Vice President, Financial Services, Tieto, tel. +46 76 821 2029 Kjell Rune Tveita, CIO, If P&C Insurance, tel. +47 934 79 516 TIETO CORPORATION DISTRIBUTION NASDAQ OMX Helsinki NASDAQ OMX Stockholm Principal media Tieto is an IT service company providing IT, R&D and consulting services. With approximately 17 000 experts, we are among the leading IT service companies in Northern Europe and the global leader in selected segments. We specialize in areas where we have the deepest understanding of our customers' businesses and needs. Our superior customer centricity and expertise in digital services set us apart from our competitors. www.tieto.com If is the leading property and casualty insurance company in the Nordic region as well as to Nordic customers with international operations. Today we have approximately 3.6 million customers in the Nordic and Baltic countries. Since 2007 we are also present in Russia. www.if-insurance.com [HUG#1427638]