Another U.S.-Based ABB Subsidiary Selects IFS Applications; The IFS/ABB Relationship Continues to Gain Momentum with ABB Vetco Gray Choosing IFS Business Software.

Business Editors & High-Tech Writers

CHICAGO--(BUSINESS WIRE)--Aug. 5, 2002

IFS has signed a contract with Houston-based ABB Vetco Gray, a subsidiary of global technology company ABB, to provide IFS business software to strengthen the company's maintenance operations.

ABB Vetco Gray, which provides systems, products, and services for the oil and gas industry, will use IFS' maintenance and inventory applications for all worldwide manufacturing operations.

The contract is part of an ongoing alliance between IFS and ABB under which ABB resells IFS Applications components to its customers, particularly those in asset-intensive industries. In February, IFS Applications became the first enterprise software to earn ABB's IndustrialIT Enabled certification, which ensures integration with ABB's process automation solutions.

"IFS Applications will enable us to thoroughly modernize our maintenance operations," said Paul Krueger, ABB Vetco Gray senior vice president of Information Systems. "IFS' component-based technology and its integration with ABB's fast-growing list of IndustrialIT products and services will be central to this effort.

"This powerful combination provides us with a single database that gives us global visibility to all maintenance activities, including process and machinery information. This allows us to collaborate worldwide on the types of adjustments, maintenance, and changes that are made to like equipment to ensure that we are able to maintain the full capabilities of this equipment and minimize unscheduled downtime."

"We're delighted to have this opportunity to further our alliance with ABB," said Terje Vangbo, IFS North America president.

"The combination of our component-based suite of maintenance applications and ABB's automation systems provides the oil and gas industry with an easy-to-implement yet comprehensive solution. A number of ABB divisions worldwide are already experiencing greater operational efficiency, reduced costs, and improved productivity from their IFS/ABB solution."

ABB Vetco Gray is the world's leading supplier of systems, products, and services for onshore and offshore oil and gas drilling and production. Founded in 1906, the company is headquartered in Houston, with major production facilities in the United States, Brazil, Scotland, and Singapore.

Major research and development centers are located in Houston and Aberdeen. Supporting manufacturing and aftermarket facilities are located in Argentina, Australia, Canada, China, Denmark, England, Indonesia, Mexico, Nigeria, Scotland, the United States, and Venezuela. The company has customer support personnel in 60 locations around the world.

ABB (www.abb.com) is a global leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in more than 100 countries and employs about 150,000 people worldwide.

About IFS and IFS Applications(TM)

IFS develops and supplies component-based business applications for medium and large enterprises. IFS Applications, which is based on Web and portal technology, offers 60+ enterprise application components used in manufacturing, supply chain management, customer relationship management, financials, engineering, maintenance, and human resource administration.

IFS provides customers step-by-step evolution to the extended enterprise with e-business solutions that offer partner, customer, and supplier collaboration.

A leading global business applications supplier, IFS has more than 3,200 employees, with sales in 43 countries. The company is listed on the Stockholm Stock Exchange (XSSE:IFS). More information is available at www.ifsna.com.