Three Norwegian Energy Companies Select IFS Applications.

TUCSON, Ariz.--(BUSINESS WIRE)--Oct. 7, 1998--IFS Industrial and Financial Systems, the fastest growing international ERP vendor, and the first to deliver incrementally deployable, component-based enterprise business solutions, today announced that three power companies in Norway -- Kristiansand Energiverk, Vest-Agder Energiverk and Aust-Agder Kraftverk -- have jointly chosen to purchase IFS Applications 99 software solutions. These three companies are part of the Norwegian Interkraft Group. The initial contract amounts to $1 million in licenses and service(s).

The agreement also contains an option for two additional power plants within the NI Group to purchase software. Selecting from IFS Applications for Energy, the initial order for the three power plants includes modules covering financials, computerized maintenance, distribution and project control.

"IFS is a market leader in business systems within the energy sector in Scandinavia," says Bengt Nilsson, Group CEO of IFS. "Since April of this year, IFS Applications has been purchased by several other power companies within Norway alone -- Trondheim Energiverk, Oslo Energi Holding, Tussa Kraft, Sogn og Fjordane Energiverk, with additional new contracts expected within the next few weeks."

"With the purchase of IFS Applications, we have gained a new tool to support our most important business processes," says Jan Petter Horn, Chief Financial Officer at Aust-Agder Kraftverk. "With it, we are laying the foundation for extended strategic cooperation within all of Interkraft Group."

Interkraft

Interkraft is a cooperative formed among a number of Norwegian power stations involving production and sales of power. The Interkraft companies serve a total of 278,000 energy customers and have annual production of 11.2 TWh. The Interkraft Group has annual sales of $500 million, with 1,400 employees.

About IFS and IFS Applications

Industrial & Financial Systems, IFS AB, develops and supplies IFS Applications, which is a complete Enterprise Resource Planning (ERP) system for business processes in medium-size and large companies. It covers manufacturing, distribution, financials, maintenance management, resource management, and engineering.

IFS's business concept is to increase the freedom of action and competitiveness of companies by offering standardized business systems based on leading technologies. IFS Applications is one of the first business systems in the market developed entirely using object technology.

IFS Applications is based on a thoroughly applied component concept. It can be readily adapted to the needs of individual customers and is equipped to handle the Y2K compliance issues and the introduction of the Euro.

IFS is one of the world's fastest-growing companies in the ERP and maintenance software market. IFS has more than 1,400 employees and its products are sold in 30 countries around the world. Some of the more than 1,000 major customers include Volvo, NEC, Akzo Nobel, Caterpillar, Saab, Nikon, Kimball, Allied Signal and Ericsson.

IFS Applications is a trademark of IFS Industrial and Financial Systems. All other referenced company or product names are trademarks or registered trademarks of their respective owners.