Banking Software News from SIT

Korea Exchange Bank of Canada Expands Term Deposit Business using Portfolio Plus

Toronto, Canada – March 28, 2007: Strategic Information Technology Limited (“SIT”) is pleased to announce that Korea Exchange Bank of Canada has chosen Portfolio Plus to facilitate term deposits that are sold using brokers and the CANNEX network.

“Korea Exchange Bank of Canada prides itself in efficient use of capital and we have proven this on a global basis”, says Seemok Kim, Vice President of Marketing. “Our use of SIT’s term deposit module to facilitate the sale of term deposits to brokers who use the CANNEX financial network will help accelerate our success in Canada.”

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, CANNEX, FundServ, ATM/POS switch interfaces, and more.

"On behalf of Strategic Information Technology I’d like to thank Korea Exchange Bank of Canada for their decision to move forward with our term deposit module of Portfolio Plus”, said G. Robert Leeming, President of SIT. “I am convinced that choosing this solution will help Korea Exchange Bank of Canada further integrate into the Canadian financial industry. We are excited to help this happen.”

About Korea Exchange Bank of Canada

Korea Exchange Bank is a customer oriented bank. Korea Exchange Bank of Canada aims to deliver better performance through efficient use of capital and people, disciplined growth, stronger internal teamwork, and global standard HR practices. Our customer relations are among our greatest competitive assets.

Established in 1967 as a government-owned bank specializing in foreign exchange, Korea Exchange Bank came to hold an unrivalled position in trade finance and global finance. After being privatized in 1989, the bank solidified its standing as one of Korea's premier commercial banks with a competitive presence in the corporate and private banking field.

In January of 2006 Korea Exchange Bank recorded annual net income of KRW 1,929.3 billion.

Korea Exchange Bank of Canada is regulated by the Office of the Superintendent of Financial Institutions (OSFI) and is a member of the Canadian Deposit Insurance Corporation.

About SIT

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 credit unions, banks, trust companies and building societies to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit cards, CANNEX, FundServ, 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.

For further information please contact:

Patrick Lannigan
VP Marketing
Strategic Information Technology
Telephone: 905-640-0808 x356
Email: patrickl@stratinfotech.com