| Banking Software for General Bank of Canada

Banking Software News from SIT

General Bank of Canada Chooses Portfolio Plus

Toronto, Canada – April 27, 2005: Strategic Information Technology Limited ("SIT") is pleased to announce that General Bank of Canada, located in Edmonton, Alberta, has chosen Portfolio Plus to initiate its banking activities in Canada.

Donald A. Wheaton, President and CEO of General Bank of Canada had the following to say, "Compared to other banking software vendors we looked at, SIT's Portfolio Plus provided us with a superior ability to scale our business by allowing us to purchase only the modules we require to get started and then plug in new functionality from the complete suite of Portfolio Plus banking software, as our business grows."

Portfolio Plus, with its Plug-In Banking architecture, allows companies to quickly respond to business challenges by plugging in new capabilities as required.

"We want to congratulate General Bank of Canada on receiving a banking charter from the Office of the Superintendent of Financial Institutions ("OSFI") and we look forward to partnering with them to grow their business", said G. Robert Leeming, president of SIT.

About General Bank of Canada

General Bank of Canada, located in Edmonton, Alberta, Canada, is owned by the Wheaton Group of Companies, the largest General Motors franchised dealer network in Canada. The incorporation of a bank further expands the financial services of the Group which currently owns a regulated life company, First Canadian Insurance Corporation, and a property and casualty company, Millennium Insurance Corporation. General Bank of Canada is the first private company in Canada, to be issued a banking charter.

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.

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


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by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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