Banking Software News from SIT

Portfolio Plus Adds Leasing Component

Toronto, Canada - January 10, 2005: Strategic Information Technology Limited ("SIT") is pleased to announce the addition of a Leasing component to Portfolio Plus.

SIT entered into a joint application development project with Caribbean Finance Company Limited, who sponsored this initiative after signing a License Agreement following a Symposium held March of 2004 in Trinidad. Together we developed a generic Leasing package that accommodates not only their requirements but also provides flexibility in the creation of additional types of Leasing. Full Lease Set-Up is supported with future payment, maturity calculations, full administration and reporting functionality as well as real time buyout calculations. As in all components of Portfolio Plus, all leasing transactions transparently link to the Accounting component (General Ledger).

Adaptability and flexibility have always been strong points of Portfolio Plus. The relationship with Caribbean Finance Company Limited and Portfolio Plus and this newly created functionality further prove this.

About Caribbean Finance Company Limited

Caribbean Finance Company Limited was formed in 1971 as the motor vehicle financing associate of Southern Sales and Service Co. Ltd. The company is a subsidiary of Universal Investments Limited, a private investment holding company incorporated in Trinidad and Tobago.

The company has grown steadily since its commencement of operations and now commands a prominent position among non-bank financial institutions providing finance to a wide cross section of the market whilst retaining the valuable linkage to its affiliated companies in the auto business.

About Strategic Information Technology Limited

Strategic Information Technology Limited was formed in 1988. SIT develops and markets a core banking system Portfolio Plus. Portfolio Plus is a highly functional application designed to be easily tailored to customers' unique environments, to process information efficiently, and to provide timely access to information essential to competing effectively in the financial services industry today.

For further information, please contact:

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