Residential | Small Business | Enterprise | Wireless Region / Language
For Release Wednesday, September 29, 2004
Zions Bancorporation Renews AT&T Relationship With $7.5 Million Networking Contract
AT&T's networking solution saves money and expands capabilities
SALT LAKE CITY -- Zions Bancorporation ("Zions") has extended its long-term business relationship with AT&T by awarding a $7.5 million contract renewal for an integrated networking solution to support consolidating bank-processing operations at selected regional banks. Zions operates approximately 400 full-service banking offices in eight western states.
Using a portfolio of AT&T voice and data services, Zions gains a number of corporate efficiencies, including more centralized network operations, the benefit of receiving uniform services across all banks from a single communications provider and call-center consolidation benefits. When the bank's "Project Unify" project is complete, Zions expects to achieve meaningful expense reduction through improved productivity.
"For more than 20 years, we have had a positive business relationship with AT&T, and this renewal agreement deepens our relationship," said Mike DeVico, executive vice president and chief information officer of Zions Bancorporation. "The quality and reliability of AT&T's services will help us consolidate banking services, reduce our costs and streamline customer service operations."
The AT&T networking solution includes frame relay, private line, calling card and voice services.
AT&T will integrate Zions' regional bank operations in Arizona, California, Colorado, Nevada and Utah with AT&T OneNet® Service, which bundles a custom solution of voice, data and Internet services into one contract. In addition, through the award-winning secure AT&T BusinessDirectÒ portal, Zions gains online access to tools that provide real-time monitoring and management of network performance and direct access to AT&T's ordering, status, account management, billing and payment systems.
About Zions Bancorporation:
Zions Bancorporation (NASDAQ: ZION) is one of the nation's premier financial services companies, consisting of a collection of great banks in select high growth markets. Under local management teams and community identities, Zions operates approximately 400 full-service banking offices in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Utah and Washington. In addition, Zions is a national leader in SBA lending, public finance advisory services, agricultural finance and electronic bond trading. The company is included in the S&P 500 Index. Investor information and links to subsidiary banks can be accessed at www.zionsbancorporation.com.
About AT&T
For more than 125 years, AT&T (NYSE 'T') has been known for unparalleled quality and reliability in communications. Backed by the research and development capabilities of AT&T Labs, the company is a global leader in local, long distance, Internet and transaction-based voice and data services.
AT&T 'Safe Harbor'
The foregoing contains 'forward-looking statements' which are based on management's beliefs as well as on a number of assumptions concerning future events made by and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside AT&T's control, that could cause actual results to differ materially from such statements. These risk factors include the impact of increasing competition, continued capacity oversupply, regulatory uncertainty and the effects of technological substitution, among other risks. For a more detailed description of the factors that could cause such a difference, please see AT&T's 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission. AT&T disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of AT&T.
