IBM Announces CDN $720-Million Services Agreement With TD Bank Financial Group To Manage 40,000 PC?s And Network Infrastructure


ARMONK, NY, October 16, 2003 -- IBM announced today that it has signed a seven-year agreement with TD Bank Financial Group worth approximately CDN $720-million to manage the bank's desktop and network technology infrastructure.

Under the agreement, IBM will provide the desktop and network related services for more than 40,000 personal computers within TD Bank Financial Group and over 1,200 TD Canada Trust Branches. These services include the implementation of a state-of-the-art data network for rapid deployment of new financial services for the bank.

"As a leader in retail financial services, we can build upon our success by focusing more on enhancing services, while we rely on IBM's expertise to manage our infrastructure," said John Davies, Senior Vice President & CIO of Enterprise Technology Solutions at TD Bank Financial Group. "IBM's support will allow us to introduce new products and services for customers while realizing cost savings."

"IBM is providing the desktop and network support to enable the bank to respond faster to changes in the market and reduce their operating costs," said Joanne Olsen, Vice President, IBM Global Services, Canada. "We believe that our strong track record in delivering services to the banking industry will benefit TD Bank Financial Group."

About IBM Global Services
IBM Global Services is the world's largest information technology services and consulting provider, generating over US$36 billion in 2002. Approximately 180,000 professionals serve customers in more than 160 countries, providing the entire spectrum of customers' e-business needs -- from the business transformation and industry expertise of IBM Business Consulting Services to hosting, infrastructure, technology design and training services. IBM Global Services delivers integrated, flexible and resilient processes -- across companies and through business partners -- that enable customers to maximize the opportunities of an on-demand business environment.

Source: IBM