Banking Software News:

Agricultural Development Bank Upgrades to Portfolio Plus 2008

Toronto, Canada – November 12, 2007: Strategic Information Technology Limited (“SIT”) is pleased to announce that Agricultural Development Bank (“ADB”) has completed its upgrade to Portfolio Plus 2008.

“Upgrading to Portfolio Plus 2008 was much easier than anticipated and the benefits have proven it to be worthwhile,” said Mrs. Jacqueline Rawlins, CEO of ADB. “As a matter of fact, we were in the last stages of preparing to upgrade to Version 2007 when we realized Version 2008 was available and that it was a viable proposition to upgrade directly to it.”

As a testament to its flexibility, SIT’s Portfolio Plus banking software is used by government agencies, who administer loan programs, in addition to banks, virtual banks, trust companies, credit unions, and insurance companies.

“ADB has worked closely with us throughout this upgrade and we’re happy to say that Portfolio Plus 2008 has helped improve their efficiencies overall,” said G. Robert Leeming, President of SIT. “The flexibility of Portfolio Plus allows it to be used for business development loan programs at the national, provincial, and state level. We look forward to working with more governments to help them improve their loan and incentive programs.”

Portfolio Plus offers a Plug-In Banking^TM platform that is affordably priced and scalable for large or small deployments. Installations of Portfolio Plus can include modules for web banking, loans, mortgages, term deposits, investments, accounting, retail banking, ATM switch interfaces, and more.

About Agricultural Development Bank

The Agricultural Development Bank, located in Port of Span, Trinidad, was established in 1968 by an Act of Parliament (#3 of 1968), and given the mandate to encourage and foster the development of agriculture and commercial fishing, and industries connected therewith and to mobilize funds for the purpose of the development.

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