COR AG Financial Technologies
COR AG Insurance Technologies: LBBW opts for COR-Tax software package – COR strengthens its position in the banking sector
COR AG Insurance Technologies / Contract Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- LBBW opts for COR-Tax software package – COR strengthens its position in the banking sector (Leinfelden-Echterdingen, 25 July 2008) – In connection with the new capital gains compensation tax being introduced in Germany on 1 January 2009, Landesbank Baden-Württemberg (LBBW) has opted to use the COR-Tax software module from COR AG Insurance Technologies. As a central tax computation module, COR-Tax not only models the tax rules for the new capital gains compensation tax, but also models all the other capital gains tax rules for customers of financial institutions. The contract for the licence and for support with integrating COR-Tax into the existing IT landscape of LBBW is worth around EUR 3.0 million. The contract also covers ongoing improvements and adaptations to take account of legislative changes – over the next five years in the first instance. Having launched its product-related business in the banking sector as recently as February 2008 with the Hypo Real Estate outsourcing agreement, COR AG’s LBBW contract is its first major contract for a new customer that relates to products associated with the COR-Banking Suite which it is developing. Winning this contract underscores the company’s strategy of expanding its range of products and services to the banking sector. The acquisition of Alldata Systems GmbH, a company primarily active in the banking sector, which COR announced on 20 May this year, is also relevant in this context. Issuing party: COR AG Insurance Technologies Karlsruher Straße 3, 70771 Leinfelden-Echterdingen WKN 508320, ISIN DE0005083208; WKN A0SFQR, ISIN DE000A0SFQR9 Stock exchange centres: Regulated market in Frankfurt (Prime Standard); Open market in Berlin, Dusseldorf, Hamburg, Stuttgart Contact: COR AG Insurance Technologies Investor Relations Karlsruher Straße 3 70771 Leinfelden-Echterdingen Tel.: +49 711 94958-0 E-mail: ir@corag.de Internet: http://www.corag.de 25.07.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: COR AG Insurance Technologies Karlsruher Straße 3 70771 Leinfelden-Echterdingen Deutschland Phone: +49(0)711-94958-0 Fax: +49-(0)711-94958-49 E-mail: ir@corag.de Internet: www.corag.de ISIN: DE0005083208 WKN: 508320 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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