Banking Software News from SIT

MCAP Inc. Decides on Portfolio Plus for Term Deposits

Toronto, Canada – October 31, 2005: Strategic Information Technology Limited ("SIT") is pleased to announce that MCAP Inc., located in Toronto, Ontario, has chosen Portfolio Plus to help increase the functionality of its term deposit business.

"When we did our technical and marketing due diligence on term deposit software we discovered that Portfolio Plus had superior flexibility and control as well as a proven reputation in the marketplace." said Derek Sutherland, Treasurer of MCAP Inc. "With Portfolio Plus I can make changes to my product offering to serve our depositors better without having to involve a software supplier. This power will add functionality to our term deposit business and allow MCAP Inc. to meet our strategic goals.”

SIT is a leader in the Canadian term deposit and debenture market with the proven capability of Portfolio Plus. In addition to term deposits, Portfolio Plus offers plug-in modules for retail banking, investment management, loans, mortgages, web banking, data mining, and XML integration with legacy systems.

“MCAP Inc. is an opportunistic mortgage investment corporation and we’re pleased to see them using Portfolio Plus to increase their funding base.” said G. Robert Leeming, president of SIT. “We believe MCAP Inc. can further increase their presence in the Canadian market by using Portfolio Plus and we look forward to helping them achieve that goal.”

About MCAP Inc.

MCAP Inc. is a loan company regulated by the Office of the Superintendent of Financial Institutions and qualifies as a mortgage investment corporation under the Income Tax Act (Canada). MCAP Inc. is a public company whose shares are listed on the Toronto Stock Exchange (TSX: MKP). The term deposits that MCAP Inc. raises are insured by the Canada Deposit Insurance Corporation.

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.

SIT can be reached at (http://www.stratinfotech.com) or by phone at 905-640-0808.

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, please contact:

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