July 26, 2000

Immediate Release

Excel Technology Signed Cooperative Agreement With Great

Infotech Group Of Beijing Providing National Distribution

Network Service For Excel In China

Excel is pleased to announce that on 20 July 2000 it has entered into a cooperative agreement with Great Infotech Group of Beijing, China. Great Infotech will promote and distribute Excel's software products and IT services through its well established nationwide distribution network.

Great Infotech was incorporated in 1995 and has been a fast growing IT company in China. Its core businesses include distribution of computer products, system integration, software development, network design and development of e-Commerce solutions. The gross revenue of Great Infotech in 1999 was over Rmb480 million. 70% of its clients are banks, insurance and securities companies. The client base of Great Infotech, which is principally in the banking and financial sector, provides Excel with the appropriate target group for its financial software products.

Excel is confident that it can leverage on the experience and marketing network of Great Infotech in China to seek a high growth track in the China market. Great Infotech has branches in Beijing, Shanghai, Guangzhou, Shenzhen, Shenyang, Nanjin, Wuhan and Chengdu. Non-financial clients of Great Infotech include such multinational corporations as Carrefour, General Electric and Dow Chemical.

Excel Technology International Holdings Limited ("Excel", stock code: 8048) is a leading business application solutions provider and is principally engaged in the development, sale and implementation of enterprise software. The Group is also involved in the operation of the ASP (application service provider) business through i21 Limited, a joint venture with iBusiness Corporation ('iBusiness'), IT consultancy, systems integration and resale and maintenance of IT products, all with a principal focus on the banking and finance sector.

The Group has successfully developed a suite of 12 enterprise software products, including loan application, loan management, Internet banking, electronic banking, integrated online stock trading and settlement, credit card application, unit trust management, human resources management (with MPF features), general insurance, property management, electronic document management and electronic supply chain management. All are built upon Excel's proprietary infrastructure technology developed by our own Software Center.

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