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News Release from Surecomp - BGL goes live with IMEX Letter of Credit module

December 16, 2004 – Surecomp, a leading provider of front and back office trade finance solutions is pleased to announce Banque Générale du Luxembourg, one of the leading banks in the Grand Duchy of Luxembourg, has implemented the Letter of Credit module of IMEX, Surecomp’s SWIFT Ready Gold labeled, Bolero accredited Trade Finance solution.

Initially the Bank licensed IMEX in June 2000, at the time taking only the Clean Collections / Documentary Collections / Cash Letters module.

The implementation of the IMEX Letter of Credit module now gives the Bank a comprehensive trade finance solution, which will be used to manage the bank's international trade finance activity. The completed implementation will result in improved operating efficiencies and cost reductions, as well as enhanced customer service and convenience.

Commenting on the implementation of the IMEX Letter of Credit module, Marc Meyers, Head of Trade Finance and Collections said, "We are extremely pleased with the IMEX solution, and the speed and professionalism of the LC implementation team. Our objective in opting for the IMEX Letter of Credit module was to ensure that we offer our customers the range of services they require in a timely fashion. We are confident that our customers will benefit from our investment."

In offering his congratulations to BGL, Yuval Karp, Surecomp’s Vice President Customer Services remarked "Over the past year, we have worked very closely with Banque Générale du Luxembourg to enable them to fulfill their mission of increasing the efficiency of their trade finance processing capabilities. Throughout their history BGL has always been at the forefront of leveraging new solutions in order to stay competitive in a challenging and dynamic business scenario. We at Surecomp are proud to be associated with Banque Générale du Luxembourg."