Nordea and Stockmann to start card cooperation in Finland

A long-term card and marketing cooperation agreement between Nordea and Stockmann is to start in Finland. The new Stockmann MasterCard, which is free of annual charge, will be launched this month. Customers will now get access to a competitive and versatile card that combines the benefits offered by Stockmann and Nordea. Nordea and Stockmann previously signed an agreement on the sale of the credit card and customer financing stock linked to Stockmann's loyal customer programme to Nordea in Finland, Latvia and Estonia. The long-term card and marketing agreement also aims to develop Stockmann's card services. New and changing benefits for customers There is no annual fee for Stockmann MasterCard, which is linked to Stockmann's loyal customer programme. The card combines the benefits of Stockmann's loyal customer status, Nordea's expertise in cards and the qualities of an international payment card. The customers will be able to enjoy various benefits jointly offered by Nordea and Stockmann. Moreover, Stockmann MasterCard is also available as a combination card that can be linked to a Nordea bank account. - Cooperation between the two strong companies means new benefits and greater flexibility for customers. Along with this cooperation, we can join Stockmann's loyal customer programme and further extend our card selection. In addition, we can offer our customers superior benefits, says Pekka Nuuttila, Head of Regional Bank Helsinki-Uusimaa. Stockmann MasterCard-holders who do not have a bank account in Nordea can join the Netbank card service, which enables them to follow up transactions on their credit card and edit the credit features similarly to Nordea's customers who currently use the service via Netbank. The aim is to launch the Stockmann MasterCard in Latvia towards the end of 2008 and in Estonia in early 2009. Nordea strengthens its leadership position In the card cooperation, Nordea will be responsible for the financing of Stockmann MasterCards, for card issues and card services. Naturally, the two companies' customer systems will remain separate. Stockmann MasterCard will replace Stockmann's current account card. The new agreement will further strengthen Nordea's position as the market leader in credit cards in Finland. It will also foster growth potential in Latvia and Estonia. Stockmann's loyal customers total over 1.6 million. For further information: Pekka Nuuttila, Head of Regional Bank Helsinki-Uusimaa, +358 9 165 42530 Anita Männikkö, Project Manager, +358 9 165 88108 Susanna Aarnio, Group Communications, +358 9 165 42328, +358 50 61749