contract with anz - up 60%

very big contract win for ITE with ANZ Bank, this should help open up doors for further contracts. It has only 86million shares on issue so any good news leads to big moves as can be seen from the 60% rise today, it closed very strongly as well.

15 October 2003 ASX announcement
ANZ selects IT&e's Razor Risk Management product
IT&e Limited (“IT&e”) is pleased to announce that Australia and New Zealand
Banking Group Limited (“ANZ”) has finalized the tender process for the replacement
of its credit risk management system and IT&e's Razor product has been chosen as
the preferred solution. Subject to finalisation of the contract terms, Razor is expected
to replace ANZ's existing global risk and exposure management system. ANZ's
decision has been made after an extensive evaluation of a number of products from
international risk solution providers.
This significant assignment is a major win for IT&e and positions its new Razor Risk
Management product at the leading edge of the credit risk product marketplace.
IT&e and ANZ are finalising contract details.
About IT&e Limited
IT&e, a leading Australian financial services company, specialises in the development
of high performance credit risk management solutions. Examples of IT&e’s work
include Commonwealth Bank’s globally acclaimed Risk Management applications.
Razor is IT&e’s credit risk management product, which provides the limit
management and exposure measurement functionality required to manage credit
risk across an organisation's trading and banking portfolios.
Enquiries:
Malcolm Warne, Head of Product Sales Ph +61 2 9236 9476
Jim Maranis, Managing Director Ph +61 2 9236 9427
Oliver Carton, Company Secretary M + 61 412 149 118