ITEL IT&E

RNS Number:4160T
IT&e Limited
30 April 2008



30 April 2008


                                  IT&e Limited

                  Mutual termination of joint project with QTC

                        and Change of Registered Office



IT&e Limited (ASX code: ITE, AIM: ITEL) announces that it has agreed with
Queensland Treasury Corporation ("QTC") to terminate the joint project to
develop an online investment administration system.



Background



On 29 June 2007 ITE announced a joint project with QTC to develop QTC's fully
integrated, core, on-lending and investment administration platform using IT&e's
PTX software.



Mutual termination



Following a review of the project, QTC and IT&e have decided to terminate the
joint project agreement.  QTC will pay IT&e for work completed to date, and both
parties will be able in future to use the intellectual property generated by the
joint project to date from the Requirements and Design Phase.  The parties have
executed a Termination Agreement releasing each from any liability to the other
under the original agreement.



Change of address



IT&e also advises that is has changed address.  Its new registered office is:



Level 9
115 Pitt Street
Sydney NSW 2000
Australia


                                        - END -

Enquiries/Additional Information:



IT&e
James Maranis - CEO: +61 2 9236 9427
Grant Thornton Corporate Finance
Fiona Owen: +44 20 7383 5100


About IT&e Limited



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



IT&e offers three flagship products, RAZORTM NextSetPTXTM 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 include L.C.H.Clearnet Group, ANZ, HSBC,
ASX, Federal Home Loan Bank, Pittsburgh, Man Group plc, RBC and Calyon New York.
PTX enables on-line trading of over the counter securities across multiple asset
classes (Securities, Money Market, FX, etc.) PTX clients include NAB and ANZ.
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 the Chicago
Mercantile Exchange.



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



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




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