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Fitech Laboratories, Inc. proudly announces the creation of a development facility in Saint Petersburg, Russia.

San Francisco, CA - June 3, 2003

San Francisco, CA - June 3, 2003 - Greatly encouraged by the success of its financial framework xTrade™ in Japan and the high level of interest xTier™'s April product launch has generated over the past month, Fitech Laboratories, Inc. is now proud to announce the creation of a development facility in St Petersburg, Russia.

Its objectives:
- Provide technical expertise in the areas of software development and quality assurance for current and future product releases.
- Provide xTier users with a sample application to illustrate the use of its feature-rich, cross-paradigm pre-built services.
- Provide existing and potential European partners with local support.

"With design and architecture in the Silicon Valley, and most of the development done overseas, Fitech Laboratories will have the ability to improve its ability to respond even more efficiently to a growing demand for custom development productivity enhancement technology." - Toshi Matsuhima, President, Fitech Laboratories, Inc.

CONTACT:

marketing@fitechlabs.com

About Fitech Laboratories, Inc.
Fitech Laboratories, Inc. is a leading provider of next generation software middleware technologies. By combining industry standards, service-oriented development expertise and latest technologies, Fitech Laboratories, Inc. enables organizations to drastically reduce development time and Total Cost of Ownership (TCO), while benefiting from a highly extensible, fast and reliable software infrastructure.

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