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State Bank of India Goes Live with Portfolio Plus 2007

Toronto, Canada – October 4, 2007: Strategic Information Technology Limited (“SIT”) is pleased to announce that State Bank of India (Canada) (SBI Canada) has gone live with Portfolio Plus 2007.

“Our partnership with State Bank of India continues to grow,” says G. Robert Leeming, President of SIT, “and we are honoured to be a part of their success in Canada.”

Portfolio Plus offers a Plug-In BankingTM platform that is affordably priced and scalable for large or small deployments. Installations of Portfolio Plus can include modules for web banking, loans, mortgages, term deposits, investments, accounting, retail banking, CANNEX, FundSERV, ATM/POS switch interfaces, and more.

About State Bank of India (Canada)

State Bank of India (Canada), a wholly owned subsidiary of State Bank of India, has been operating in Canada at two locations (Toronto and Vancouver) for more than a decade, extending various facilities to Indians settled in Canada such as remittance of funds through a network of over 9000 offices of State Bank of India, the largest commercial bank in India. SBI Canada has also been instrumental in fostering trade ties between India and Canada by extending financial, advisory and logistic support to Canadian and Indian Corporations.

State Bank of India is the largest bank in India with over 180 years of banking experience. Today, State Bank of India ranks among the top 25 commercial banks in Asia with assets exceeding US$145 billion. State Bank of India operates worldwide through an extensive network, with 50 offices in 34 countries.

For more information on State Bank of India, their products, services and latest updates on Indian economic and banking developments, please visit www.statebankofindia.com

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 BankingTM architecture and a Financial Services BusTM 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:
Adam Long
Strategic Information Technology
Telephone: 905-640-0808 x452
Email: adaml@stratinfotech.com


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