Banking Software News:
  Strategic Information Technology (SIT) Ltd.

Version 11 of Portfolio Plus is Released

Toronto, Canada – September 21, 2005: Strategic Information Technology Limited (“SIT”) is pleased to announce that Version 11 of Portfolio Plus was released at midnight, September 15, 2005. Version 11 of Portfolio Plus adds functionality for all banking software subsystems including: Term Deposits, Loans, Mortgages, Retail Banking, Investment Management and the Universal Gateway.

“Version 11 continues to advance our position with market leaders and innovators in the banking industry.” says G. Robert Leeming, president of SIT. “Our investment in an annual cycle discipline for major releases, along with quarterly service packs for minor releases, is helping to improve our quality across the board while also giving our customers a predictable release cycle.”

Version 11 of Portfolio plus includes a long list of added features which SIT customers can access on the SIT Advantage website.

A small subset of features and enhancements for Portfolio Plus include:

• A Common Agent Profile has been added to Portfolio Plus. This feature provides Portfolio Plus with a common interface to agents for loans, mortgages, term deposits and investments.
• From a user interface perspective, Portfolio Plus has standardized the way data browsers are accessed across all subsystems.
• Increased privacy options for banking customers who want to opt out of marketing mailings or emails.
• Improved and standardized search mechanisms across all subsystems.
• Calendar pop-ups available for all date fields.
• For high volume operations, multi-threaded processing has been added to handle peak season processing such as month end, RRSP season, quarterly ends and year ends.
• Increased security options include new processes for users who forget passwords, along with easier administration of security overall.
• New dormant account features have been added to allow for special surcharges, if necessary.
• For retail accounts, new account agreements can be produced immediately to reduce workflow time when signing up a new customer.
• Teller’s blotter now accounts for unlimited number of currencies in the cash drawer.
• RESP functionality has been added to account for the most recent C-5 legislation.
• 60LV transactions are now accommodated in the investment module for RRIF processing.
• T4 Slip and Beneficiary enhancements to accommodate transfers to RRIF before December 31 of any given year.
• Increased auditing throughout all subsystems will help accommodate increased concerns regarding internal fraud potential and Sarbanes Oxley legislation in the United States.
• Term Deposit reporting now includes a maturity report by term deposit type.
• Agent Net Commission reconcilliation is now enabled.
• TransUnion and Equifax credit bureau reports can now be accessed using XML and a Secure Sockets Layer, over the internet.

For more features, SIT customers are invited to log into the SIT Advantage website at:

https://www.sitadvantage.com

About Strategic Information Technology Limited

SIT, formed in 1988, develops and markets Portfolio Plus, an extensible banking system that enables customers to plug-in new functionality as required. This is accomplished via SIT's unique Plug-In Banking^TM architecture and a Financial Services Bus^TM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables banks and non-banks to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit/credit or loyalty products, leasing, Equifax and Trans Union credit bureau interfaces, registered investment products, and much more. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

Portfolio Plus, Plug-In Banking and Financial Services Bus are trademarks or registered trademarks of SIT in the U.S., Canada and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.

For more information:
Patrick Lannigan
Strategic Information Technology
Telephone: 905-640-0808 x356
Email: patrickl@stratinfotech.com