August 31, 2000


Immediate Release


First Pacific Bank Limited And
Excel Technology International (Hong Kong) Limited
Jointly Present The Powerful Securities Trading System


(31 August, 2000, HONG KONG) - First Pacific Bank Limited ('FPB') and Excel Technology International (Hong Kong) Limited ('Excel '), a wholly-owned subsidiary of Excel Technology International Holdings Limited (stock code: 8048) are pleased to announce their agreement to present the powerful securities trading system today.


According to the agreement, Excel will provide the InterTrade System, including customisation and implementation services, to FPB.  Coupled with FPB's extensive business network and customer base, the two companies will jointly present the powerful securities trading system which is fully ready for the AMS/3 system's arrival.


Equipped with the new System, FPB will enhance its scope of services to include Internet and mobile phone share trading and other value-added features under its iFirst Banking service to the customers.


James Ng, Managing Director of FPB, said, "The trend of Internet and mobile phone trading is imminent in an increasingly competitive environment.  The purchase of InterTrade System forms part of our ongoing commitment in IT investment to support e-commerce initiatives and facilitates us to provide online share trading services.  It also marks another milestone for our continuous development of iFirst Banking project.  With the implementation of Hong Kong Exchange's AMS/3 later this year, our customers will be able to trade stocks via the Internet and WAP devices through the new system in an instant yet secured manner."


"By choosing Excel as our partner, we can tap the best technology and team up with a reliable and innovative e-solutions provider who has solid business knowledge to meet all our requirements.  Utilising the InterTrade, FPB can deliver more efficient and sophisticated services to customers even in days of hectic transaction volume.  We believe customers will benefit as a whole from faster turnaround time in stock trading, more real-time market information and further improved account services with the new system in place," Mr Ng said.


Commenting on the agreement, Peggy Chan, Chairman and CEO of Excel, said, "Banking and finance have long been one of the Group's focus of development and a sector where we outperform our peers.  Prestigious banks and financial institutions choose our products for their efficiency, adaptability, security, our meticulous care to details and excellent after-sales services.  In expectation of AMS/3's implementation, online securities trading is bound to bloom and our InterTrade System will be in keener demand than ever.  This represents an excellent opportunity for Excel to expand its business both in breadth and in depth.  FPB is one of the most progressive banks in developing online trading and we are very happy to team up with a company which shares our vision, and we are pleased to see that their customers can trade any time at any place. ."


InterTrade or Integrated Securities Trading System is a new generation securities processing system designed to help securities companies of all sizes to cope with the straight through securities processing requirements, such as real-time customer position checking, margin monitoring and credit exception alert, in an all-electronic environment.  InterTrade comes with mobile trading and Internet trading capabilities.  It accepts orders from various input channels in different forms and it interfaces with other systems which process these orders.


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