July 22, 2003

[Immediate Release]

Bank of Communications Selected Excel To Provide The Proven
Unit Trust System For Its Hong Kong Branch

[July 22, 2003 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 a contract with the Hong Kong Branch of Bank of Communications (“BCom HK”), which is one of the largest leading commercial banks with more than 2,800 domestic branches and sub-branches over 80 big and medium cities in China, to provide and implement its Unit Trust System (“UTS”) software package.  

According to the agreement, Excel will provide BCom HK with the well-proven UTS System to support BCom HK’s immediate and future growth of the expanding unit trust business.  The UTS will enable BCom HK to automate the bulk of unit trust operations such as order processing, regular savings plan processing, and corporate actions in an efficient manner. 

In addition to the back office functions, the web-based UTS System will equip the branches of BCom HK with front-line customer servicing facilities such as real-time customer accounts portfolio management and orders management via the Bank’s intranet.  With the user-friendly interface of UTS System, customer services executives at the branches have ready access to customers portfolios and can effectively cross-sell its lines of investment services and products such as stocks, equity linked investment and insurance etc. 

Mr. Li Siu Kei, the Assistant General Manager of Bank of Communications Hong Kong Branch, said, “We see promising opportunities arise in the investment industry, a full set of nominee services on unit trust transactions and saving plans for our customers is definitely a winning strategy for us to capture these opportunities. To support this growth strategy of ours, we selected Excel’s UTS as our core solution to automate the unit trust trading and administration processes and to enhance our sales capability at the branches. More importantly, resources can be deployed more effectively to support our aggressive marketing strategies in expanding unit trust and wealth management businesses. ” 

Ms. Peggy Chan, Chairman & CEO of Excel Technology said, “The unit trust business in Hong Kong is getting more competitive than ever.  Excel’s UTS System is catered to support fund houses and banks like BCom HK who are competing not just in quality and quantities of products they offer, but also in efficiency and effectiveness of services they deliver in the unit trust arena.  The UTS System can handle a high volume of unit trust transactions efficiently and effectively so that BCom HK can grow its business significantly without a great impact on manpower. With the implementation of UTS System, we are confident that BCom HK is equipped with an edge in investment product distribution capability and customer service delivery.”

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