April 23, 2002

Immediate Release

HR21 Provides The First Comprehensive HR ASP Service To SMEs
Through UOB's Payment Gateway In Singapore

[April 23, 2002 Hong Kong] Excel Technology International Holdings Limited is pleased to announce that its subsidiary HR21 has recently launched its human resources ASP i-HR in Singapore.

For the first time in Singapore, companies will have access to a comprehensive, convenient and easy-to-use application with all the essential human resources management functions - enabling them to disburse payroll, maintain personnel records, e-file Central Provident Fund (CPF) contributions and salary tax submissions via the Internet.

Salary crediting, one of the key features of i-HR, will be processed exclusively by United Overseas Bank (UOB). Companies using i-HR will enjoy absolute convenience, as their payroll submissions will be electronically credited into their employees' bank accounts through UOB's secure electronic payment gateway.

Mr. Rickie Fung, CEO of HR21, commented, "We are glad to start our i-HR operation in Singapore and we clearly see the needs for a cost effective and yet comprehensive HR solution for the business community there, especially the small-to-medium enterprises (SME)."

"We are also delighted to have the opportunity to work with one of the largest local bank-UOB-there. By coupling with their electronic gateway service, we can bring a lot of convenience to the companies in the area of payroll management and disbursement." added Mr. Fung.

Said by a senior management of UOB Singapore, "As the market leader in loans to SMEs, UOB is well-placed to serve the needs of the SME market. We strive to anticipate the needs of our customers by offering innovative products and services that will add value to their business."

"UOB is therefore pleased to be able to offer, together with HR21, a cost-effective human resources management service. Such a unique service not only meets their needs, but also strengthens our relationship with them. We look forward to delivering more of such innovative services, that go beyond our traditional scope of credit offerings, to further benefit our customers."

i-HR is offered via an Application Service Provider (ASP) model, allowing customers to log-in and access the system at any time and from any location via an Internet-connected PC with a web browser. It is offered to business community in Hong Kong under the names "MPFdirect" from HSBC and "e-Employer" from Hang Seng Bank respectively.

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