RICHMOND, BC, Aug. 21 /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 incorporate Xit2's Conveyancing Portal into their
MDA's Conveyancing Portal is a totally automated 24/7 web-based
application that accommodates the electronic document exchange between
lenders, estate agents, mortgage brokers, borrowers and conveyancing
solicitors, and thereby increases the efficiency of their mortgage and
Richard Musty, regional chief executive at Lloyds TSB, commented, "The
existing partnership of Lloyds Hong Kong with MDA's Valuation Exchange has
proven to be highly successful, and we are pleased to expand our association
with MDA through incorporation of their Conveyancing Portal which will further
speed up the entire mortgage and conveyancing process."
Paul Duckworth, CEO of Xit2 said: "Lloyds Hong Kong provides its
customers with one of Asia's most successful and professional overseas
mortgage services and we are very pleased that they have chosen our
conveyancing portal to support their business. The Conveyancing Portal will
help to further streamline the mortgage and conveyancing process across
various time zones."
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)