IMS System Co Ltd Announces Strategic Partnership with China-Based Hi Sun Technology Holdings Limited to Distribute NEWTON™

21 April 2004 – Seoul, Republic of Korea and Beijing, People’s Republic of China – IMS System Co Ltd (IMS), a leading supplier of banking software solutions to the international banking market has signed a marketing and service partner agreement with Hi Sun Technology Holdings Limited (Hi Sun), one of the premier providers of IT solutions and business development consulting services in China.

Hi Sun will bring IMS’ internationally designed and built software solutions to the Chinese market, enabling Chinese Banks to take advantage of best-western practice software, and easing the requirement for them to undertake a full Business Process Reengineering project prior to upgrading software.

"This agreement marks the beginning of a long-term strategic business relationship between Hi Sun and IMS. The relationship is an important one for IMS, opening, as it does, the Chinese market to our product. As Hi Sun is one of the leading IT service providers in China, we are very excited about this arrangement," said Walter Rim, CEO of IMS.

Under this partnership, Hi Sun will offer the NEWTON™ Core Retail Banking System (both host server and client modules) to banks throughout China. Hi Sun will undertake the sales, installation, implementation, training and maintenance of the NEWTON™ product under the guidance of IMS’ international team. The partnership will allow both firms to provide complementary strengths to each other, Hi Sun with their knowledge of the Chinese Market and IMS with their ability to deliver an internationally recognized product.

"It is a good relationship, NEWTONâ„¢ with its international banking practices built in," says Zheng Shen, Senior Vice President, Hi Sun Technology Holdings Limited, "combined with our knowledge of Chinese practices. This provides a firm footing to build great customer satisfaction on."

Having extensive capabilities in the appropriate IT technology as well as in-depth experience supporting large applications within the banking industry, Hi Sun has the knowledge and expertise to fully support NEWTOWNâ„¢ within the Chinese market.

The combination of NEWTONâ„¢ from IMS and the implementation expertise of Hi Sun within the Chinese marketplace will provide Chinese Banks with a low risk alternative to other packages now available in China. It will also ensure that the Chinese Banks can stay competitive when the banking market is opened in 2006, which is only a short time-period away.

Press release contact:
Ian Thompson
Executive Vice President
Strategy and Development
IMS System Co Ltd
Mobile Phone: +61 407 259 467

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