Softbank has confirmed market rumors that a substantial part of its risk management team resigned from their posts. Softbank believes that this was a deliberate attempt to copy Softbank’s competencies in this area as specialists in this field are rare. Softbank has reported that it had already taken steps to rebuild its competencies. However, the realization of the contract with Raiffeisen ZB will not be possible in its previous form until new people develop the competencies. Although Softbank’s sales from implementation of risk management systems were of rather limited importance to the consolidated top-line (according to our estimates some PLN 20m versus total revenues of PLN 537m in 2005), we would expect the news to have a substantial negative trading impact, as the segment has been viewed as an important growth-driver for the future.