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  Strategic Information Technology (SIT) Ltd.

Grand River Chooses Portfolio Plus for Growth

Toronto, Canada – June 30, 2005: Strategic Information Technology Limited ("SIT") is pleased to announce that Grand River Credit Union, located in Waterloo, Ontario, Canada, has selected Portfolio Plus as the credit union software platform to merge the operations of Brant Credit Union and Waterloo Regional Credit Union.

"From a strategic credit union perspective, the capabilities of SIT’s Portfolio Plus Plug-In Banking architecture make it an easy decision." says Gord Harrison, CFO of Grand River. "Portfolio Plus not only satisfies our current requirements for retail, loans, and investments, but has also proven itself in the market to be a system that can accommodate rapid change in volume and functionality. We will leverage these capabilities as we execute our business plan."

"We’re happy that Grand River has made a strategic decision to grow their business and made Portfolio Plus their platform of choice." says G. Robert Leeming, president of SIT. "As a vendor there is nothing more gratifying than seeing your product used strategically. That was our vision when we started our company and why we named ourselves Strategic Information Technology. Congratulations to Grand River on their continued success."

Portfolio Plus enables banks and credit unions to grow rapidly in transaction volume and functionality because of its Plug-In BankingTM architecture.

About Grand River Credit Union

Grand River Credit Union was formed on October 1, 2004 through the amalgamation of Brant Community Credit Union and Waterloo Regional Credit Union. Both credit unions have similar histories, with their original charters granted in 1947 (WRCU) and 1949 (BCCU). This amalgamation has provided a stronger market presence, with an increased ability to continue to grow and further build financial strength. GRCU serves over 21,000 members with over $250 million in assets.

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, please contact:

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


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