MCHENRY, Md., Oct. 30 /PRNewswire-FirstCall/ -- As part of the Company's international sales and marketing program, Solution Technology International, Inc. ("STI") announced today it has activated an "Export Maryland" Grant awarded to STI earlier this year by the State of Maryland to identify and engage in "high-level" meetings with organizations to secure clients, resellers and IT partners for its reinsurance support environment throughout the Chinese and Singapore markets.
Dan Jonson, President & CEO stated, "The competitively awarded Grant was provided by the Maryland Department of Business & Economic Development to promote STI's sales and marketing effort throughout the Asian market, which presently is conducted in cooperation with the Maryland China Center, Shanghai and the US-ASEAN Business Council in Singapore. Both organizations are providing valuable assistance with market research, introduction to, and initial due diligence of the targeted business opportunities. In addition, the Commercial Service Department of the U.S. Embassy in Singapore has offered to arrange for STI meetings to which selected insurance and reinsurance companies in the region will be invited by the Embassy to learn about the SurSITE(R) solution. An invitation by the U.S. Embassy would most likely receive more attention from prospective customers than STI alone would receive as we are building a market presence in this fast growing region." Mr. Jonson stated further, "The Chinese and Southeast Asian markets offer significant opportunities for insurance and reinsurance related support systems like STI's SurSITE(R) Reinsurance Platform, which we now actively introduce to targeted potential clients, resellers and IT partners in China and Singapore."
STI, a software product company, offers SurSITE(R), a reinsurance processing system that helps an insurance or reinsurance organization to facilitate and support critical reinsurance back-office business processes and efficiently manage complex reinsurance contract combinations throughout the entire reinsurance contract workflow, from assumed and ceded to retroceded business. Common stock of the Company is listed on the OTC Bulletin Board; trading symbol STNL. For more information about STI and the SurSITE(R) solution, please visit www.sursite.com .
SAFE HARBOR STATEMENT: THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, SUCCESSFUL DEPLOYMENT OF ITS ENTERPRISE SOFTWARE AND/OR OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. THESE FORWARD- LOOKING STATEMENTS ARE BASED ON MANAGEMENT'S EXPECTATIONS AS OF THE DATE HEREOF, AND STI DOES NOT UNDERATKE ANY RESPONSIBILITY TO UPDATE ANY OF THESE STATEMENTS IN THE FUTURE. SEE STI'S FORM 10-QSB FOR THE QUARTER ENDED JUNE
30, 2007 FOR A DISCUSSION OF SOME OF THE RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH NECESSARILY QUALIFY ALL STI'S FORWARD-LOOKING STATEMENTS.
Web site: http://www.sursite.com/