ABG SPiN has reported signing a PLN 21.2m contract with PZU Life for PLN 21.2m net. The contract encompasses delivery of hardware and software (within the next 20 days) and integration services and maintenance by the end of May 2009. Our view: We believe the news should have a positive trading impact, though we suspect that the majority of the contract value is hardware and third party software. However, this contract proves that ABG SPiN found a way to co-exist at PZU with its parent company, Prokom, for whom PZU is one of the biggest and most stable customers.