Information  X 
Enter a valid email address

Vebnet (Hldgs) PLC (VBT)

  Print      Mail a friend

Friday 10 June, 2005

Vebnet (Hldgs) PLC

Agreement with Prudential UK

Vebnet Holdings PLC
10 June 2005




                             VEBNET (HOLDINGS) PLC

                          Agreement with Prudential UK

Vebnet, the AIM-traded market leader in employee benefit technology solutions,
announces that it has signed an agreement with Prudential UK, which manages more
than 4,000 occupational pension schemes, to build the [email protected] system, an
innovative employee benefit solution for the corporate market. IBM will host the
system.

[email protected], which is an enhancement of Vebnet's core FIX&FLEX(R) product, will
deliver flexible benefits, Total Remuneration Statements and voluntary benefits
to employers looking to introduce new employee benefit packages or enhance their
existing offer.

[email protected] will be marketed through Prudential UK's existing relationships with
employee benefit consultants. It will include a wide range of products and
providers for employers and their employees to choose from, including private
medical insurance; personal accident insurance; dental plans; protection
products; travel insurance; life assurance; health care cash plans; child care;
leisure and retail vouchers; as well as personal computers as part of the
Government's popular home computing initiative. In addition, [email protected] offers
both a full range of website marketing communication tools, and education and
financial planning tools.

Gerry O'Neill, Vebnet's CEO, stated 'We are delighted to be signing up with both
Prudential and IBM and share their view that worksite marketing represents a
significant growth opportunity. This opportunity is further enhanced by the
strength and quality of the Prudential and IBM brands, in combination with
Vebnet's market leading technology. This partnership agreement reinforces
Vebnet's position as the provider of choice and delivers what must be regarded
as a truly innovative proposition.'

The agreement is expected to contribute materially to turnover in the year to 30
June 2006.

NOTES FOR EDITORS:

Vebnet's business is to develop, distribute and implement internet-based
technology solutions and services to support the communication, delivery and
administration of flexible and voluntary employee benefit schemes. Vebnet
distributes its technology both on a direct basis and through partnerships,
including with Aon, KPMG, and Watson Wyatt.

Vebnet, which is based in Edinburgh, was founded under five years ago, in July
2000, and floated on AIM in January 2003 through the reverse take-over of
Stockbourne plc.

ENQUIRIES:

Vebnet
Gerry O'Neill (CEO)                                                0131-270 5502
                                                                   07990-584 096
                                                               [email protected]
                                                                               
Stephen Thurlow (Finance Director)                                 0131-270 5503
                                                                   07899-912 522
                                                             [email protected]
                                                                             
Seymour Pierce
Jonathan Wright                                                    020-7107 8000
                                                [email protected]
                                                                               
Bankside Consultants Limited
Charles Ponsonby                                                   020-7444 4166
                                                   [email protected]




                      This information is provided by RNS
            The company news service from the London Stock Exchange
                                                                                            

a d v e r t i s e m e n t