Norwegian Auto Sales and Service Group Will Use IFS Applications(TM)

LINKOPING, Sweden, Aug. 23, 2004 -- One of Norway's leading automotive sales and service corporations, Bertel O. Steen, has selected IFS Applications to run its business processes. The contract is valued in excess of $10 million. Delivery will be made in collaboration with ErgoGroup, the IFS partner in Norway that operates Bertel O. Steen's existing systems.

"The decision to change business applications is part of our strategy of simplifying our internal processes so that our employees can give our customers even better service," said Arild Saastad, IT director at Bertel O. Steen. "Competition in auto sales and service is getting tougher, so we are changing our processes step by step so that we can increase the efficiency of our entire organization."

The automotive industry is one of IFS' targeted markets worldwide. IFS' automotive solutions are designed for OEMs and their direct or indirect suppliers, such as system, part, or component suppliers. All core business processes, including product development, manufacturing, procurement, planning, and customer relationship management (CRM) are supported, along with quality management, financials, and human resources. IFS supports lean manufacturing through components for Kanban, Kaizen costing, and production schedules.

IFS has more than 100 automotive customers in North America, Europe, and Asia, including Volvo Cars, Volvo Trucks, MG Rover, BMW, Mayflower Vehicle Systems, Finnveden Sheet Metal Components, Lotus Cars, KYB Manufacturing North America, Expert Components, Toyo Denki Seizo k.k., Unipart Manufacturing Group, Timberjack, London Taxis International, and VBG.

About Bertel O. Steen

The Bertel O. Steen group is one of Norway's largest service and trade companies, importing Mercedes-Benz, Peugeot, Chrysler, Jeep, Dodge, Kia, and Daihatsu automobiles. Sales and after-market service for private and commercial vehicles is provided through 18 wholly and jointly owned distributors. The group also operates an independent chain of repair shops, Snap Drive, and is active in real estate management, financial services, sport equipment, marine engines, and safety products. The group reported revenue of approximately $1 billion in 2003 and has 2,050 employees.

About IFS and IFS Applications

IFS develops and supplies component-based business applications for medium and large enterprises and organizations. IFS Applications, which can be implemented step by step, is based on web and portal technology. The solution offers 60+ enterprise application components used in manufacturing, supply chain management, customer relationship management, service provision, financials, product development, maintenance and human resource administration. IFS offers customers an easier, more open alternative.

IFS is a leading global business applications supplier with sales in 45 countries and more than 350,000 users worldwide. The company is listed on the Stockholm Stock Exchange (XSSE: IFS).

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.