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Wang Global to Provide Networkplace Services to First Union National Bank; Expansion Of Services Contract Valued at More Than $220 Million.

BILLERICA, Mass.--(BUSINESS WIRE)--April 5, 1999--Wang Global (NASDAQ:WANG), an international networked technology services and solutions company today announced that First Union Corporation (NYSE:FTU), a leading U.S. financial services provider, has expanded its service agreement with Wang Global to include the design and deployment of a fully integrated, end to end desktop and network infrastructure. The additional services are valued at more than $220 million under a new ten year agreement.

Currently, Wang Global provides First Union with maintenance services, hardware help desk, server build and migration, and project services. Under the terms of the expanded agreement, Wang Global will also provide planning and solution design for all desktops, servers and routers, project and procurement management, network installations, and software support including application standards.

"Wang Global is delighted to be broadening our partnership with a world-class financial organization such as First Union." said Joe Tucci, chairman and chief executive officer of Wang Global. Our expanded relationship with First Union will allow them to fully leverage our expertise in the financial services industry. Wang Global currently serves 9 of the world's top 10 banks."

Tom Fogarty, Chief Technology Officer for First Union Corporation, called the agreement a true win-win situation. "This expanded agreement is a natural progression for our working relationship," said Fogarty. The agreement will also enhance our operating efficiency and productivity. With Wang Global, we have a partner with extensive experience in managing IT for the financial services marketplace."

Tucci said the expanded agreement will enable First Union to benefit fully from Wang Global's NetWorkPlace(TM) service offering. This comprehensive suite of life-cycle services is focused on enhancing the total value of ownership of client organizations' networked computing environment. NetWorkPlace services are designed to help organizations plan, deploy, manage and maintain a common operating environment (COE), and to implement a Common Service Environment (CSE) to reduce total cost of ownership, while maximizing the value of their information technology resources.

About First Union Corporation

First Union Corporation is a leading provider of financial services to more than 16 million retail and corporate customers throughout the East Coast and the nation. First Union is the nation's sixth largest bank holding company, based on assets of $237 billion as of December 31, 1998. The company operates full service banking offices in Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and Washington, D.C.

About Wang Global

Headquartered in Billerica, Massachusetts, Wang Global is a leading international networked technology services and solutions company providing a comprehensive range of information technology services for today's network-centric business environments. With revenues over $3.0 billion, Wang Global designs, installs, operates and maintains global computing and telecommunications networks for some of the world's largest multinational companies. Services include systems architecture design, installation, warranty, help desk, maintenance, software support, and management of enterprise networks to the desktop. Wang Global integration services provide business solutions primarily for the banking industry as well as defense and civilian government agencies. Wang Global employs approximately 20,000 professionals and has subsidiaries and affiliates in over 40 countries. Information about Wang Global and its services can be found on the World Wide Web at www.wang.com.
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Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Apr 5, 1999
Words:535
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