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China Construction Bank Licenses Surecomp's IMEX Trade Finance Solution

Hong Kong – September 1, 2003 – Surecomp, a leading provider of trade finance solutions for the wholesale banking industry, announced today that China Construction Bank, the country's #2 bank and ranked in the top 30 banks worldwide, has licensed IMEX as its back-office trade finance solution. IMEX is Surecomp's SWIFT ReadyGold-accredited and trade finance system.

Established in 1954, the Beijing-based state-owned bank has licensed the Thin Client browser-based version of IMEX on a UNIX platform. The rapid growth in China Construction Bank's international settlement business, which has resulted in increased market share, proved the catalyst of the Bank's search for a "next generation" trade finance solution. The licensing of IMEX is one of the core elements in China Construction Bank’s modernization plan to propel the Bank into the #1 spot as the country’s leading trade finance bank.
"We were very impressed by the technological and functional advantages offered by IMEX, which will help us upgrade and streamline our trade finance services," said China Construction Bank’s Chen Li Ping. "Furthermore, our evaluation teams appreciated the dedication, patience and innovative thinking shown by Surecomp’s professionals."

The selection of IMEX by China Construction Bank followed an extremely rigorous and professional evaluation process in which the functionality and technology of IMEX were analyzed and compared to other solutions in the market. Instrumental factors in the selection of IMEX included the system’s capability to handle simultaneously letters of credit, collections, guarantees and a wide range of other trade finance services; the superior functionality of IMEX; and the proven implementation abilities of Surecomp.

Announcing the licensing of IMEX by China Construction Bank, Joel Koschitzky, Surecomp’s Chairman and CEO, said, "The selection of IMEX by China Construction Bank is a great achievement for Surecomp, and credit must go to the many support teams managed by Raymond Wang. In selecting IMEX, China Construction Bank clearly validates Surecomp’s pledge to offer the very best of trade finance solutions."

"Many of the fast-growth banks in the Asia Pacific region have expressed an urgent need for better trade finance capabilities. I am delighted to confirm that in IMEX, China Construction Bank has chosen a trade finance solution that will help the Bank consolidate its dominant position within the international settlement arena," added Raymond Wang, Surecomp Vice President, Asia Pacific Region.