market update, page-15

New Announcement:

IT&e Limited

1 May 2007

Treasury Corporation of Victoria selects IT&e's Razor(TM) For Market Risk

IT&e Limited (ASX code: "ITE" AIM: "ITEL"), a leading provider of financial
software and consulting services to the global financial markets is pleased to
announce the Treasury Corporation of Victoria (TCV), a Victorian State
Government Corporation, has selected IT&e's Razor product for the measurement of
the Corporation's Market Risk.

IT&e and TCV have today signed a license agreement for Razor to address TCV's
fully integrated, advanced Market Risk management requirements. Razor was
identified as the appropriate product for TCV's requirements after a search of
international risk solutions.

Steven Dive, Head of IT&e's APAC Product Sales noted, "We are very pleased to
partner with TCV and provide Razor as the solution for TCV's Advanced Risk
Project. Razor provides integrated Market and Credit Risk management and will be
initially implemented to fulfil TCV's market risk requirements including
comprehensive stress testing, back testing and scenario analysis. Razor offers
TCV a strategic platform for the future with the opportunity to expand
functionality to include Credit Risk modelling, CVaR, Earnings at Risk (EAR),
Risk Adjusted Performance Measures (RAPM) and Economic Capital, all within the
single Razor solution."

James Maranis, CEO of IT&e said, "We are delighted that Treasury Corporation of
Victoria, has chosen to measure their risk with Razor. This strongly endorses
Razor's adaptability and flexibility to meet the Risk requirements for a broad
range of financial organisations' including Banking, Funds Management, Exchanges
and Government Authorities.

"This represents another significant step for IT&e in our quest to become a
leading vendor in the Risk space."

About IT&e Limited

IT&e is a globally recognised technology company listed on both the Australian
Stock Exchange "ASX" and the "AIM" Market of the London Stock Exchange.

IT&e offers three flagship products to global financial institutions: RAZORTM,
NextSetPTXTM and Monarque(R). RAZOR enables organisations to more
cost-effectively address their market, credit and liquidity risk management
requirements. Razor clients include ANZ, HSBC, ASX, Federal Home Loan Bank,
Pittsburgh & Man Group plc. PTX enables on-line trading of over-the-counter
securities across multiple asset classes. PTX clients include NAB & ANZ.
Monarque is a full STP solution covering Front to Back Office requirements of
Treasury and Capital Markets operations for major banks and broking houses.
Monarque clients include Bear Stearns, Brown Brothers & Harriman and the Chicago
Mercantile Exchange.

IT&e is headquartered in Sydney, with offices in Melbourne, London, New York and
Chennai India. Our global network of highly skilled
specialists consistently provide superior technology services across the
financial markets trading and risk management business areas.