ITEL IT&E

RNS Number:0942J
IT&e Limited
04 December 2007


4 December 2007                                           ASX & AIM Announcement

                      IT&e Undertakes Placement of Shares

IT&e Limited (ASX code: "ITE" AIM: "ITEL") advises that it has today agreed to a
placement of shares to GBST Holdings Limited (ASX code: "GBT"). The issue of
shares is expected to occur on 7 December 2007.

The number of ordinary shares to be issued will be 16,000,000 at 9 cents per
share raising $1.44 million. The purpose of the placement is to raise funds for
working capital to develop further business opportunities in the United Kingdom
and North American markets.

The issued share capital of IT&e, following allotment of the new ordinary
shares, will be 250,759,970 fully paid ordinary shares. Following the issue of
these 16,000,000 shares GBST will hold a relevant interest in 11% of the issued
capital of ITE. GBST's initial holding of 4.9%, prior to the issue of these new
shares, was acquired through the course of 2007.

Enquiries:

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

About IT&e Limited

IT&e is a globally recognised technology company listed on both the Australian
Securities 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 Royal Bank of Canada, 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 & QTC. 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
provides superior technology services across the financial markets, trading and
risk management business areas.

For further information about IT&e, please visit our website 

http://www.ite-fs.com


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

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