VILNIUS, ZURICH, SHANGHAI – February 02, 2010 – iTree, a leading IT service provider for insurance industry in Eastern Europe, Russia and South Africa has established a strategic partnership with eBaoTech, a global provider of insurance solutions. With eBaoTech’s modern and standards based suite of insurance solutions, iTree has extended the portfolio of solutions it can provide for its clients and acquired an innovative new partner that shares its vision.

eBaoTech, which is based in Shanghai and has its European headquarters in Zurich will leverage this alliance to extend its reach among General Insurance clients in Eastern Europe, Russia and South Africa and drive transformation projects for its clients.

"iTree has a deep understanding of the insurance industry in markets like Russia and South Africa, and clearly shares our vision to create a new global standard for core policy administration systems using modern technologies and innovative business models. We are proud to work with iTree to accomplish this vision over the next few years," said Daniel Adamec, Managing Director, eBaoTech Corporation, who is also responsible for global Alliances.

"eBaoTech's solutions are of a particular interest to our clients because of their broad functionality and modern architecture, which allows us to address our customers' needs efficiently. This, together with eBaoTech's responsiveness to their clients' needs makes our partnership with eBaoTech a clear benefit to our clients." said Mantas Buta, Board Member, iTree

About eBaoTech

eBaoTech delivers standard-based, highly configurable insurance software suites to both property and casualty (P&C) and life insurers. Its future-proof product offerings enable insurers to realize the cost-effective, scalable, flexible and highly automated insurance operations in the ever changing environment. With offices in nearly ten countries across Europe, Asia and the Americas, eBaoTech has an extensive global coverage to serve leading insurance companies. For more information, visit www.eBaoTech.com or contact eBaoTech at info@ebaotech.com

About iTree

iTree has extensive and successful experience in providing IT service to the insurance industry in the Baltic, Russia, Eastern Europe and South Africa. Through the combination of its local knowledge, industry expertise and through its business practices it seeks to be a valuable long-term partner to its clients, rather than simply a solution provider. iTree understands that the ability to provide true and measurable business value will be a prerequisite for IT service companies of the future and stays ahead of the curve by making this the core tenet of its business practice. For more information, visit www.itreefinance.com or contact info@itreefinance.com.