TIETO CORPORATION   PRESS RELEASE         14 April 2014 at 9.00 EET

Tieto and LähiTapiola are expanding their collaboration and have signed a framework agreement on application maintenance and development. In the first phase, LähiTapiola's financial and personnel management system will be renewed. LähiTapiola is entering into this agreement to make its ICT functions more efficient and to reduce costs.

The financial management project will begin immediately, and the five-year agreement includes an option to extend the contract by a further two years. The financial management renewal will be done in phases with the aim of extending the system's coverage to all LähiTapiola Group companies by the beginning of 2016. The agreement covers taking over the key financial and personnel management systems and transferring the knowledge related to these systems, deploying the SAP financial management software and implementing a SAP Dynamic Landscape environment.

"We believe it's important to make our key systems more efficient, which will enable our financial management and HR systems to meet the challenges of future operating environments. We need a reliable partner to implement these changes," says LähiTapiola's Chief Information Officer Mikko Vastela.

"We are proud of the trust LähiTapiola has shown in us, and we have done our best to support in the best possible manner an initiative that advances their business. Our close and quite diverse collaboration in earlier joint projects has also given us a strong foundation for this new area of collaboration," says Tieto's Customer Executive Ari Pylkkö.

For further information, please contact:

Ari Pylkkö, Customer Executive, Tieto Finland, Financial Services, ari.pylkko[at]tieto.com, +358 40 7420 612
Mikko Vastela, CIO, LähiTapiola, mikko.vastela[at]lahitapiola.fi, +358 503232983
Timo Laakso, Director of Finance, LähiTapiola, timo.laakso[at]lahitapiola.fi, +358 503268659

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Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers' business transformation. At Tieto, we believe in professional development and results.

Founded 1968, headquartered in Helsinki, Finland and with approximately 14 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.6 billion. Tieto's shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.

The LähiTapiola Group is a mutual, company-based full-service finance services firm that provides services for private customers, farmers, entrepreneurs, businesses and organizations. The core of LähiTapiola's operations lies with its 20 regional companies, which have approximately 300 offices around Finland. As a mutualised corporate group, the profits are used to develop services and customer benefits. The LähiTapiola Group was created when Lähivakuutus and Tapiola decided to merge in 2012. The LähiTapiola Group officially began its operations at the beginning of 2013. It is Finland's largest provider of property and casualty insurance.

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