Following an in-depth review of the New Zealand Bureau Rebuild (NBR) project in conjunction with Capgemini, Veda Advantage (ASX/NZX: VEA) has decided to focus on completion of the data stream (Phase 1).  The project is being brought in-house and Veda will take direct ownership and management of the project going forward. Capgemini will complete current work in relation to the data stream and hand the project over to Veda Advantage around 3 August.

Phase 2 of the NBR project, the development and delivery of a new credit bureau platform, will cease and the updated bureau data will remain in New Zealand on the existing technology platform.  This change to the NBR project has no effect on the privatisation of Veda Advantage, which ceased trading on the Australian Securities Exchange and the New Zealand Stock Exchange this week.  Source: www.vedaadvantage.com

BIIA Newsletter July – 2007 Issue