October 21, 2002

[
Immediate Release]

Wing Lung Bank Selected Excel To Provide The
Enterprise Securities Trading and Settlement System

For Its Fast-expanding Securities Business

 

[October 21, 2002 Hong Kong] Excel Technology International (Hong Kong) Limited (“Excel Technology”), a wholly owned subsidiary of Excel Technology International Holdings Limited [stock code: 8048], is pleased to announce that it has signed an agreement with Wing Lung Bank Limited (“WLB”) to provide a fully integrated enterprise securities trading and processing system (“InterTrade”) to support WLB’s rapidly growing securities business.

 

According to the agreement, Excel Technology will provide the state-of-the-art integrated InterTrade System with straight-through-processing capability from on-line trading to settlement, tailored to the unique WLB requirements. InterTrade will support WLB customers to trade and settle in multiple markets, multiple exchanges with multi-currencies for a variety of securities and derivatives.  For WLB, InterTrade provides a rich set of functions in account management, order processing, margin control, dealer operation and risk management in the back office. 

 

Mr. Chung Che-Shum, Executive Director & General Manager of WLB, said, “We have a high growth securities business and we need a readied solution which is advanced, full-functional, secured and proven.  We selected Excel Technology’s InterTrade after a careful evaluation process.  InterTrade had demonstrated to be comprehensive in functions, and most importantly, can be customized to cope with ever-changing business and regulatory requirements.  Excel Technology has been our trusted technology partner for many years. With InterTrade, the securities trading business of WLB can be seamlessly operated with the bank’s other computer applications, thus providing higher leverage of efficiency and cost-effectiveness. We can offer broader scope and wider range of securities services, including Internet and IVRS and other value-added features, to our customers.”

 

Ms. Peggy Chan, Chairman and CEO of Excel Technology, commented, " InterTrade is designed for straight-through securities processing with high security and risk management measures for this electronic age. It is also backed by our strong technical support. We are very happy to partner with WLB to provide the best solution for its valued customers. The agreement also represents the long-term cooperation and support in both technology and business development between WLB and Excel, and our commitment to be the Premier Provider of Financial Technology.”

 

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