Unocal First to Pilot Selkirk's New Global Web-based Solution - Treasura(tm)

Vancouver, BC, June 30th, 2004 - Selkirk Financial Technologies, a global developer of financial management solutions, today announced that Unocal Corporation has become its first pilot client for Treasura(tm), the world's first global web-based treasury management suite. Scheduled for launch this fall, Treasura is a first-of-its-kind technology that joins together all three main treasury activities - liquidity management, portfolio management and risk management - while being 100% browser-based.

"A web-based treasury platform has many advantages over traditional systems, especially for companies with globally decentralized operations," said Unocal assistant treasurer Dick Walton. "The fact that we will be able access the system 'anytime, anywhere' will give us great flexibility in our treasury management." Walton is also attracted to the benefits of the system from a business continuity perspective. "One of our principal goals is to mitigate risk in our critical business applications - a web product such as Treasura simplifies and eliminates business interruption events in many instances. We are confident that a web product will provide the assurance we require in our dynamic and complex business atmosphere."

The Treasura pilot is proof of Selkirk's commitment to product improvement and its clients. "With all the talk about partnering, it is refreshing to find someone willing to step up and demonstrate its commitment to its clients. The Treasura pilot is a concrete example of how Selkirk leverages client involvement and input in their product evolution and direction," said Walton. "I have been looking for a web-based system like Treasura and am anxious to see it in production. Selkirk has always valued Unocal as an organization and continues to proactively pursue our needs and desires."

Because Treasura is a fully-hosted Internet application, there is no new software to install and no new demands on IT resources or infrastructure. Organizations save money by streamlining processes and minimizing human error, while making money through better financing decisions and improved allocation of human resources.

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