HSBC Bank plc selects IT&e’s Razor risk management product

19 January 2005

The Board of financial services software group, IT&e Limited (ASX: ITE), is
pleased to announce that it has entered into a long-term license agreement with
HSBC Bank plc for the use of IT&e’s Razor product. HSBC Bank plc will be implementing Razor in their London offices to assist with the management of
credit, market and liquidity risk.

This significant assignment is a major win for IT&e, further endorsing IT&e’s
global expansion strategy. The contract also demonstrates Razor’s ability to meet the risk management requirements of one of the world’s largest financial
institutions.

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