Danske Bank first European bank to deliver TWIST BSB

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London, Copenhagen, September 17, 2007 – TWIST, the corporate driven open standards group and Danske Bank today announced that Danske Bank has gone live as the first European bank with electronic transmission to GE on details of bank charges.

TWIST has created a global standard for electronic reporting of bank services, and has delivered a best practice on an important issue for corporate treasuries. This TWIST BSB standard enables banks to periodically advise their wholesale clients of their service usage and charges. Danske Bank is the first European bank that now can deliver electronically to its customers in 5 European countries the structured and standardised details of type, quantity, price and other information about their bank services billed to wholesale users.

Peter Storgaard, Head of Cash Management Sales at Danske Bank, said, “We are proud to be able to deliver this new service. It is in line with our cash management strategy to deliver cutting edge cash management solutions. Our customers will benefit from this solution as it improves their overview of bank charges and enables them to choose bank relations with even more qualified information. It will help ensure that their treasury needs are met both today and into the future.”

General Electric (GE) receives TWIST BSB-files from Danske Bank in Denmark, Sweden, Norway and Finland, with Ireland to be the next country. The information is used to analyse and control the development in the debited fees. This creates a transparent relationship which is an advantage for both the bank and the customer.

Paul Burstein, Managing Director of Treasury Services at GE said, “This is an excellent case study of how corporates, by joint efforts, can improve co-operation with stakeholders. We are excited that continued development will bring more and better solutions to close the gaps in the physical and financial supply chain, and will release the enormous value locked up in disjointed paper-based processes.”

About Danske Bank (www.danskebank.com) Danske Bank is the largest bank in Denmark and a leading player in the Nordic financial markets. The Danske Bank Group operates under local branding in the different markets; Danske Bank in Denmark, Germany, Poland, ZAO Danske Bank in Russia, Sampo Bank in Finland, Estonia, Latvia and Lithuania, National Irish Bank in the Republic of Ireland, Östgöta Enskilda Bank in Sweden, Northern Bank in Northern Ireland, and Fokus Bank in Norway.

The Group serves significant part of the corporate, public and institutional sectors. It also has a large number of international corporate clients, particularly in the northern European markets.

For more information, please contact:

Peter Storgaard

Danske Bank


Tel: +45 45138880

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