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Surecomp opens Beijing office

Beijing – March 3, 2005 – Surecomp, a leading provider of trade finance, factoring and reconciliation solutions for the banking and financial market, today announced the opening of a sales, support and development center in Beijing, China. The center will be managed by Surecomp China’s General Manager, Mr. Matthew Chen.

With more than 20 years experience, Mr. Matthew Chen is a well respected personality within the Chinese IT marketplace. Matthew was a pioneer of the mainframe service business in China and his experience includes roles at Unisys, DPC, Amdahl and at IBM China where he was in charge of IBM PSS China North and Inland.

Joining Matthew as Director of Sales for projects, is Mr. Zhao Gang and as Director of Services Mr. Liu Ai Hua. Both men worked previously at IBM China and at DPC and collectively bring to their new positions close to 35 years software and service expertise.

Speaking at the opening ceremony, Surecomp Chairman and CEO Joel Koschitzky remarked, "China presents a great market opportunity for Surecomp. Opening an office in China offers Surecomp direct access to the ever growing Chinese banking and financial community. Our decision to establish a development center is based on our excellent experience to date in China.

The development center will support our China based clients and also serve as the development center for our next generation of Hi-Finance, our factoring solution. The professionalism of the programmers is excellent. The team we have put together in Beijing is an excellent one."

"I am excited to spearhead Surecomp push into China. The decision to expand and open a development and support center is the strongest possible proof of the commitment Surecomp has to China. Surecomp is one of the few software vendors to take this bold step and I am proud to work with them" said Matthew Chen, Surecomp China’s General Manager.