Moneris Solutions Expands Client Roster with the Addition of State Bank of India

Business Wire, June 4, 2007

CHICAGO -- Moneris Solutions, one of North America's largest electronic transaction processors, today announced an agreement to provide credit card processing services to State Bank of India (California).

The State Bank of India (California) is a Los Angeles-based bank whose parent, the State Bank of India, is the largest commercial bank in India in terms of assets, deposits, branches and employees.

Under the new three-year agreement, State Bank of India (California) will offer advanced point-of-sale technologies, wireless payment processing and electronic bill payment to its business customers using Moneris Solutions' transaction-processing technologies, hardware and software.

"We are proud to offer exceptional programs and personal service to engage our clients in a value-added partnership," said Damodaran Pillai, chief credit officer of State Bank of India (California). "Moneris Solutions offers the payment processing technology, expertise and hands-on service that allow us to provide superior service to our commercial customers."

"We appreciate the opportunity to partner with the State Bank of India (California) in providing a customized solution to meet their specific needs," said Greg Cohen, president of Moneris Solutions U.S. "This is yet another example of how Moneris Solutions can work with clients of all sizes and specialties to design and implement a payment processing solution to best meet the customer's needs."

About State Bank of India (California)

State Bank of India (California), headquartered in Los Angeles, California, is a California State chartered subsidiary of State Bank of India with assets of $300 million. State Bank of India (California) is an American bank with an Indian heritage. Established in September of 1982, State Bank of India (California) provides service to customers through its six existing locations in Los Angeles, Artesia, San Jose, Fresno, Conoga Park and San Diego. The parent bank, State Bank of India, is the largest commercial bank in India in terms of assets, deposits, branches and employees.

About Moneris Solutions

Moneris Solutions, Inc. (www.monerisusa.com) has a 40-year history as one of North America's largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris Solutions serves more than 350,000 North American merchant locations and has a staff of over 1,100 employees. Moneris' U.S. headquarters are located outside of Chicago, IL.