| Banking System and Software for Caribbean

Agriculture Development Bank Moving to Portfolio Plus

Toronto, Canada – August 20, 2004: Portfolio+ Inc. announces that the Agricultural Development Bank ("ADB") has now signed a perpetual licence agreement to move onto the Portfolio Plus Platform.

The process for the vendor selection began April 7, 2004 with the initiation of an RFP. Since then, Portfolio+ Inc. has proven that Portfolio Plus will meet ADB’s specific selection criteria. ADB was seeking a platform that was user-friendly, flexible, scalable, and, provided accurate and timely management reporting, so as to allow their business to continually grow while using a system which would adapt to the ever changing business requirements.

Portfolio+ Inc. president, Robert Leeming says: "When we started to construct our Banking Application, in 1988, the key element was adaptability. We wanted to bring to the market a Banking Solution that could be installed globally without major adjustments. The adaptability of Portfolio Plus will become further evident with this installation in Trinidad and Tobago. We look forward to working with ADB and to our continued growth in the Caribbean".

Once again, Portfolio Plus's industrial strength has proven itself and allowed the company to enthusiastically become a part of ADB's mission "to be the specialist provider of quality credit, customer service and related support services for the sustained development and advancement of the agribusiness sector".

About Agricultural Development Bank

The Agricultural Development Bank was established in 1968 by an Act of Parliament (#3 of 1968), and given the mandate to encourage and foster the development of agriculture and commercial fishing, and industries connected therewith and to mobilize funds for the purpose of the development.

About Portfolio+ Inc.

Portfolio+ Inc. connects financial institutions with customers and partners using innovative technologies. Its software solutions and open banking technology are used by financial institutions in Canada, Ireland, and the UK. With its powerful +Open Banking Platform and fully documented APIs, Portfolio+ has the power to connect banks, credit unions, and financial institutions with an evolving ecosystem of financial services technology that is putting everyday customers in control of their financial data.

Located in the Greater Toronto Area (GTA), Portfolio+ is used by 6 of the 7 largest financial institutions in Canada and is a part of Volaris Group Inc.

 

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