Banking Software News from SIT

Agriculture Development Bank Moving to Portfolio Plus

Toronto, Canada – August 20, 2004: Strategic Information Technology Limited ("SIT") announces that the Agricultural Development Bank ("ADB") has now signed a perpetual license agreement to move onto the Portfolio Plus Platform.

The process for the vendor selection began April 7, 2004 with the initiation of an RFP. Since then, SIT has proven that Portfolio Plus will meet ADB’s specific selection criteria. ADB was seeking a platform that was user-friendly, flexible, scalable, and, provided accurate and timely management reporting, so as to allow their business to continually grow while using a system which would adapt to the ever changing business requirements.

SIT President, Robert Leeming says: "When we started to construct our Banking Application, in 1988, the key element was adaptability. We wanted to bring to the market a Banking Solution that could be installed globally without major adjustments. The adaptability of Portfolio Plus will become further evident with this installation in Trinidad and Tobago. We look forward to working with ADB and to our continued growth in the Caribbean".

Once again, Portfolio Plus' industrial strength has proven itself and allowed SIT to enthusiastically become a part of ADB's mission "to be the specialist provider of quality credit, customer service and related support services for the sustained development and advancement of the agribusiness sector".

About Agricultural Development Bank

The Agricultural Development Bank 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

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.

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