Banking Software News:

General Bank Upgrades to Portfolio Plus 2008

Toronto, Canada – December 13, 2007: Strategic Information Technology Limited (“SIT”) is pleased to announce that General Bank of Canada, located in Edmonton, Alberta, has completed its upgrade to Portfolio Plus 2008.

“The upgrade to Portfolio Plus was easy to manage,” said Gord Mooney, Chief Operating Officer of General Bank, “and we were especially pleased with the new electronic documentation facility, workflow optimization, and Metro-2 reporting enhancements.”

“Our customers have become market leaders by embracing innovation,” said G. Robert Leeming, President of SIT, “and we help them maintain their leadership by consistently improving Portfolio Plus. This means we deliver yearly releases, along with quarterly service packs, to ensure our customers have the latest features.”

Portfolio Plus enables banks, trust companies, virtual banks, credit unions, and other financial organizations to implement their own flavour of banking to capture the best possible market advantage. Portfolio Plus, with its Plug-In Banking^TM architecture, enables financial organizations to add functionality as they require it, making it one of the most versatile solutions in the market.

About General Bank of Canada

Located in Edmonton, Alberta, General Bank of Canada is owned by Firstcan Management Inc, a privately held company with diverse interests related to the automotive industry. The incorporation of a bank further expands the financial services of the group which currently includes a regulated life and disability insurance provider, First Canadian Insurance Corporation, and a property and casualty company, Millennium Insurance Corporation. General Bank of Canada was the first private company in Canada to be issued a banking charter.

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