Banking Software News from SIT

PACE Credit Union Adopts Portcullis Web Banking Software

Toronto, Canada – March 22, 2004: Strategic Information Technology Limited ("SIT") announces that PACE Savings and Credit Union has now made the switch to Portfolio Plus Portcullis web banking software. With the upgrade to Portfolio Plus' Portcullis, PACE Savings and Credit Union is now able to offer their clients the ability to:

• View Account History, Loan History, Mortgage History, and Investment Details
• Pay Bills (Today, Future dated, or Recurring)
• Add Bill Vendors (Payable Immediately)
• Remove Recurring Bill Payments
• Transfer funds (Today, Future dated, or Recurring)
• Remove Recurring Transactions
• Stop Payments
• Print Statements
• Download Account information to Quicken or MSMoney
• Renew Investments
• Change Password
• Process RRSP Contributions
• Process Loan Payments
• and much more...

"The switch to Portcullis Home Banking at PACE was probably the biggest non-event of my IT career", said Terry Chapman, vice president of special projects for PACE Savings and Credit Union. The live implementation went without a hitch. Both SIT and PACE staff worked well together to prepare for the launch and I attribute the smooth kick-off to their diligence. Our member reaction has been very positive. They like the ease of navigation and additional functionality available to them through Portcullis. This launch has allowed PACE to offer another top quality service to our members and is reinforcement of the decision we made in adopting the Portfolio Plus solution."

About Strategic Information Technology

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.

About PACE Savings and Credit Union

PACE Savings and Credit Union is dedicated to offering the full range of financial services of a banking co-operative. Membership is open to all residents and businesses in the province of Ontario, Canada. PACE provides this complete banking service through innovative service delivery systems, including branches, 24 hour telephone banking, Online Banking through the Internet, ATMs and Interac ATM and Direct Payment systems. PACE is owned completely by its member-shareholders and is committed to the improvement of their financial well-being.

For more information, please contact:

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