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Kanbay Forms Strategic Alliance with ASG

Relationship Provides Financial Institutions With End-to-End Applications That Can Reduce Operating Costs and Enhance Legacy Transformation

ROSEMONT, Ill., Oct. 13 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (Nasdaq: KBAY), an IT services firm providing solutions to the financial services industry, today announced that its subsidiary, Kanbay Incorporated, has entered into an alliance with ASG, a leading provider of application productivity improvement solutions. Through their alliance, Kanbay and ASG will accelerate the delivery of end-to-end application management and modernization solutions for the financial services industry.

Under terms of the agreement, Kanbay will integrate ASG's metadata and applications management solutions -- ASG-becubic(TM) and ASG-Rochade(TM) -- with Kanbay's unique TransformationLink(SM) methodology.

Kanbay's proprietary methodology TransformationLink provides financial services companies with a roadmap to transform their legacy core business systems. TransformationLink helps financial services companies to address business issues caused by dated legacy applications, such as high maintenance costs, low flexibility and extended time to market for new products and services.

ASG-becubic handles information about application components constructed in more than 100 different technologies, including: programming, command, and job control languages, teleprocessing monitors, screen generators, middleware, database management systems, and schedulers. ASG-Rochade is a metadata management solution that allows users to document, manage, and reuse metadata across a variety of technologies.

The combination of ASG-becubic, ASG-Rochade and Kanbay-TransformationLink services addresses a number of business issues, including:

"Financial institutions need IT systems that can adjust to environmental changes, such as regulatory compliance pressures, new services, or an expanded customer base, while helping to reduce operating costs," said Francis R. Albin, Senior Vice President of Global Alliances at Kanbay. "By blending Kanbay's strong financial services experience and unique global delivery model with ASG's market leading metadata and applications management products, we can empower financial services companies to gain better ROI from their IT investments."

"We are thrilled about the relationship with Kanbay. Kanbay's unique delivery methodology and global footprint will help us expand our position as the leader in metadata management solutions worldwide," said Arthur Allen, President and CEO of ASG. "Together we will continue to enhance end-to-end application management solutions that provide the highest value for financial services companies."

About Kanbay International, Inc.

Founded in 1989, Kanbay International, Inc. (Nasdaq: KBAY) is a global IT services firm focused on the financial services industry. With over 4,700 associates, Kanbay provides its services primarily to banking institutions, credit service companies, insurance companies and securities and investment firms. The company uses a global delivery model to provide application development, maintenance and support, software package selection and integration, business process and technology advice, and specialized services. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in the U.S., Canada, U.K., Australia, Hong Kong, Japan, Singapore and India. Further information about Kanbay can be found at http://www.kanbay.com

About ASG

Founded in 1986, ASG is a privately held global enterprise software and professional services firm that provides a full range of software solutions in the Metadata Management, Applications Management, Operations Management, Content Management, Performance Management, Security Management, and Infrastructure Management areas. ASG is headquartered in Naples, Florida, USA, with more than 50 offices serving the Americas, Europe, Middle East, Africa, and Asia/Pacific. For more information, visit ASG at http://www.asg.com.

Forward-Looking Statements

This press release may contain statements, which are forward-looking statements under the federal securities laws. Any forward-looking statements represent our views only as of the date of this press release, and such forward-looking statements should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this press release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the most recently ended fiscal year.