ITEL IT&E

IT&e Limited
17 October 2007

17th. October, 2007

                            PRESS/ASX & AIM RELEASE

                           Razor(TM)live at Man Group


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 that Man Group plc (London Stock Exchange (EMG) and a constituent of 
the FTSE 100 Index), a leading global provider of alternative investment 
products and solutions, has gone live on IT&e's Razor(TM)system for measuring
and  monitoring the credit risk component of its Economic Capital.
Man Group takes a rigorous approach to Economic Capital which is an essential
component of its overall risk management framework. For credit risk this
involves the regular monitoring of the Economic Capital that Man holds to cover
its exposures to a wide range of counterparties. This approach provides security
in all types of market conditions, including the recent volatility.

Antony Elliott, Group Head of Financial Risk at Man Group commented, "IT&e
delivered a leading edge combination of thought leadership in managing Economic
Capital and state-of-the-art technology. Our business is constantly evolving,
and the increasing complexity of the firm's trading and hedging activity
required us to identify a solution that is inherently adaptable and extendible."

The Razor solution configured for the Group Risk Department models the credit
component of Economic Capital and provides results in less than two hours for a
process that had previously required over 24 hours. The solution utilises the
distributed processing capabilities of Razor.

Richard Bennett, IT&e's Head of EMEA noted, ""The ability of Razor to include
both an internally-developed, proprietary correlation model and a full
simulation of trading book exposures was key for Man Group in deriving
risk-based measures of Economic Capital."

James Maranis, CEO of IT&e said, "We are pleased to have delivered Razor into a
prestigious organisation such as Man Group. The entire implementation was
completed on time and on budget. Performance improvements are as promised, if
not faster."

About IT&e Limited

IT&e is an Australian technology company listed on the Australian Stock Exchange
and AIM Market of the London Stock Exchange, and specialises in providing
solutions to the global Financial Services markets.

IT&e offers three flagship products, RAZOR(TM)NextSetPTX(TM)and Monarque(R), to
financial institutions. RAZOR enables organisations to effectively address their
market, credit and liquidity risk management requirements, both on an enterprise
and a departmental basis. Razor clients are ANZ, HSBC, Royal Bank of Canada,
ASX, Federal Home Loan Bank, Pittsburgh, TCV and Man Group plc. PTX enables
on-line trading of over the counter securities across multiple asset classes
(Securities, Money Market, FX, etc.) PTX clients include NAB, ANZ & QTC.
Monarque supports trading and treasury management at major banks and broking
houses, and comprises modules designed to automate front-office functions.
Monarque clients include Brown Brothers Harriman, Bear Stearns and LB BW Bank.
These products are offered to the global marketplace.

IT&e is headquartered in Sydney, with offices in Melbourne, London, New York and
Chennai India, offering a highly skilled team of specialists who provide
technology services across the financial markets and risk management business
areas.

For further information about IT&e please visit our website http://
www.ite-fs.com

About Man Group

Man Group plc is a leading global provider of alternative investment products
and solutions. The Group employs 1,600 people in 13 countries, with key centres
in London and Pfaffikon (Switzerland), and offices in Chicago, Dubai, Hong
Kong, Montevideo, Nassau, New York, Singapore, Sydney, Tokyo and Toronto.  Man
Group plc is listed on the London Stock Exchange (EMG) and is a constituent of
the FTSE 100 Index.

Man Investments is a global leader in the fast growing alternative investments
industry. It provides innovative products and tailor-made solutions to private
and institutional investors. Through its multi-managers - RMF, Glenwood and Man
Global Strategies, and its single managers - AHL, Pemba and Bayswater, Man
Investments has become specialists in various alternative asset classes: hedge
funds, leveraged finance and convertible bonds. In its core hedge fund asset
class, Man Investments offers fund of hedge funds, structured and style
products. Its track record stretches back more than two decades and defines the
standard for excellence in an industry whose central goal is to provide
diversification away from traditional equity and bond investments. Man has a
powerful global presence, supported by strong product development and
structuring skills, and an extensive investor service and distribution network.

For more information, please visit http://www.mangroupplc.com.

Enquiries/Additional Information:

IT&e Limited
James Maranis, CEO: +61 2 9236 9427
Oliver Carton, Company Secretary: +61 412 149 118

Grant Thornton Corporate Finance
Fiona Owen: +44 (0)20 7383 5100

Product Information:
London, Richard Bennett: +44 (0)20 7621 8523
New York, John Groetch: +1 (212) 683 9445
Sydney, Steve Dive: +61 (2) 9236 9412


Media Enquiries:

  Abchurch Communications
  Georgina Bonham / Joanne Shears                      Tel: +44 (0) 20 7398 7700
  joanne.shears@abchurch-group.com                        www.abchurch-group.com



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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