RICHMOND, BC, April 24 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that its UK subsidiary Xit2 has signed an agreement with Lloyds TSB Offshore
(Lloyds Hong Kong) to provide an electronic solution to assist Lloyds Hong
Kong with international mortgage applications across time zones. By using
Xit2's Valuation Exchange, valuations can be instructed and tracked unaffected
by any time lag.
Paul Duckworth, Xit2's CEO said "Lloyds TSB Hong Kong provides investors
with one of Asia's most successful and professional overseas mortgage services
and we're delighted that they have chosen the Valuation Exchange to support
their business. The Valuation Exchange streamlines the instruction process,
and can halve the time taken to instruct the valuation. It's great to see how
easily and effectively our solution can be adapted for foreign markets."
Richard Musty, Regional Chief Executive at Lloyds TSB, commented, "By
utilizing Xit2's Valuation Exchange, we have a quick and efficient system that
speeds up the entire instruction process. This delivers real processing
benefits to all parties wherever in the world they reside. We took advice on
the best technology available and selected Xit2 because it provided the most
robust and reliable tools for our customers."
MDA provides advanced information solutions that capture and process vast
amounts of data, produce essential information, and improve the decision
making and operational performance of business and government organizations
Focused on markets and customers with strong repeat business potential,
MDA delivers a broad spectrum of earth and space based information solutions,
ranging from complex operational systems, to tailored information services, to
electronic information products.
MDA employs more than 3,000 people in locations across the United States,
the United Kingdom, and Canada. The Company's common shares trade on the
Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which
reflect the current view of MacDonald, Dettwiler and Associates Ltd. with
respect to future events and financial performance. Any such forward-looking
statements are subject to risks and uncertainties and MDA's actual results of
operations could differ materially from historical results or current
expectations. Additional information on these and other potential factors that
could affect MDA's financial results are detailed in documents filed from time
to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
For further information:
For further information: Wendy Keyzer, MDA External Relations, (604)