Released on: October 10, 2007, 11:49 pm

Press Release Author: PIC Solutions

Industry: Financial

Press Release Summary: Cape Town, 11 October 2007 - Ithala Limited, a leading
financial services company in Kwazulu-Natal, has partnered with PIC Solutions for
the development of an expert application scorecard for the Ithala home loans
portfolio.

Press Release Body: Ithala provides financial services to the low to middle-income
marketplace, including insurance, savings facilities and home loans. On account of
recommendations made by PIC during the recent Applications Processing HealthCheck,
Ithala appointed PIC Solutions to develop a new application scorecard for their home
loans portfolio.

During this analytical project, members of the PIC Solutions predictive modelling
team worked closely with Ithala's risk management personnel to ensure the successful
delivery of the new application scorecard. The application scorecard was designed to
align their credit decision process with their changing business objectives and the
legislative requirements set out by the South African National Credit Act (NCA).

Sibusiso Luthuli, Managing Director of Ithala Limited, states, "We are focused on
enhancing credit risk policies and strategies throughout our organisation. PIC
Solutions gained extensive insight into our business operations and decision
processes during the HealthCheck assignment. Their experience combined with this
knowledge will ensure that this scorecard helps the company meet our new objectives
whilst complying with industry regulations."

Eva Neves, Predictive Department Head at PIC Solutions, adds, "Organisations are
reassessing their credit decision processes to meet the challenges created by the
NCA and this has led to a greater demand for predictive solutions that can achieve
these requirements. The application scorecard is designed to enhance the quality of
Ithala's credit evaluation process and will ensure that they experience significant
business benefits overall."

About PIC Solutions
PIC Solutions provides consumer credit solutions to a wide range of blue-chip
organisations. We are experts in the fields of credit, risk and software and have an
established track record of success powered by solutions.

Our ongoing commitment is to enable clients to optimise the credit life cycle.

Web Site: http://www.PICSolutions.com

Contact Details: PIC Solutions
Birkdale I
River Park
Liesbeek Parkway
Mowbray
7700
South Africa

Tel: +27 (0)21 680-6000
Fax: +27 (0)21 680-6003

Info@PICSolutions.com