Banqsoft enjoys strong growth and major strategic client wins

Oslo, April 12, 2010 - Banqsoft, an Oslo, Stockholm, Helsinki and Poland-based provider of mission critical financial software and professional services to companies providing lease, equipment and consumer financing, is pleased to announce the close of another landmark year in 2009. The company is continuing to enjoy strong growth in this recessionary period. Also, as was separately announced earlier this year, the Company has signed a landmark multi-year contract with DnBNOR Finans covering Norway, Sweden and Denmark. International expansion and large, strategic contracts with blue-chip financial institutions have been driving the Company’s development to date and this growth is expected to accelerate over the coming years.

In light of the current global economic crisis, companies in the financing sector are forced to streamline their operations by using sophisticated and proven software solutions such as Banqsoft’s View 21 software suite. Using Banqsoft’s products and services becomes the preferred means for financing companies to increase their competitiveness in a cost-effective way. As a result, Banqsoft has experienced unprecedented demand for its products and services since the start of the financial crisis. This is demonstrated by recent high profile wins with market-leading institutions such as Raiffeisen Leasing and DnBNor.

The Company, led by Stefan Niemi, has a market-leading presence in the Nordic market with blue chip customers such as Santander, Volkswagen and Toyota and is now rapidly expanding in Eastern Europe where it already won a number of high profile contracts with financial institutions such as Raiffeisen Leasing. Banqsoft’s core business is software solutions for effective management of credit portfolios including leasing, floorplanning and fleet management. Our aim is to combine cost efficient portfolio management with highly automated handling of the sales and credit processes. Banqsoft strives to offer our customers the advantages of the latest technology available in the market. This feature in combination with the rich functionality achieved through a long partnership with several world leading financial service providers make us unique. In Banqsoft’s Nordic and Polish core markets for vehicle and equipment financing software, the Company enjoys market shares of around 70% and 35% in Norway and Sweden respectively with growing market shares in Denmark, Finland and Poland.