-SNS says Docdata extended contract with Bol.com not surprising.

CORPORATE IT UPDATE-(C)1995-2011 M2 COMMUNICATIONS

20 June 2011 - SNS Securities said today it was not surprised with the five-year contract extension between Dutch IT company Docdata NV (AMS:DOCD) and online retailer Bol.com.

It would be difficult for Bol.com to change its Internet services supplier, analyst Martijn den Drijver said, adding that Bol.com is probably Docdata's biggest customer.

The mutual dependence means that Bol.com has possibly managed to agree concessions with Docdata in the form of lower prices per transaction, according to Den Drijver.

In addition, the construction of Docdata's new logistic centre is facing delay, Den Drijver said, pointing to the previously announced deadline for the end of the year.

Docdata said today that the centre is expected to start operating in the second quarter of 2012.

The delay will have no material consequences as the activities are successfully managed from the company's existing centre, the analyst said.

Den Drijver maintained his "buy" recommendation for Docdata, whose shares gained 1.46% to EUR11.14 by 10:00 CET in Amsterdam on Monday.

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