PACE Credit Union Upgrades to Portfolio Plus 2008

Toronto, Canada – August 29, 2008: Strategic Information Technology Limited (“SIT”) is pleased to announce that PACE Credit Union, located in Vaughan, Ontario, Canada, has completed its upgrade to Portfolio Plus 2008.

"We, at PACE, continue to be impressed by the high level of customer support we received from SIT," said Phillip Smith, Chief Financial Officer for PACE. "Our most recent upgrade to Portfolio Plus 2008 was no exception. With the help of the SIT support team the entire upgrade process was virtually flawless."

"We continue to work closely with our credit union partners to improve functionality and flexibility", says G. Robert Leeming, President of SIT. "Typical banking software vendors shy away from frequent upgrades. At SIT we look forward to them. We like to ensure our customers have the latest features so they can continue to improve the products and services they offer."

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 PACE Credit Union

Established in 1938, PACE Savings & Credit Union Ltd. is a leading financial institution and one of Ontario's largest credit unions with over $360 million in assets and close to 26,000 members. Offering a full range of financial products, aggressive power rates and a dedication to personalized service, PACE provides a superior banking experience to individuals, businesses and non-profit organizations in the communities it serves.

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