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Cheq Information Technology Inc. announced changes to the Board of Directors

Thursday, September 13, 2007

Press release from the issuing company

Las Vegas, Nevada, September 10th, 2007 -- Bill Tsingos of Melbourne, Australia resigned from the board for work related reasons. The Board of Directors expresses their gratitude to Bill Tsingos for his contribution during the start-up phase of the company. The Board approved the current Chief Financial Officer - Neil S. Bottos FCPA as his replacement in the Asia/Pacific region. Mr. Bottos will also continue in his capacity as Chief Financial Officer.
After serving as Chairman since the company was started, W. W. (Bill) Hymes has stepped down as Chairman but has agreed to stay on in the capacity as a Non Executive Director. Bill Hymes has been replaced by Michael D. Noble as Chairman.
Commented John V. Ashley, CEO: "We were privileged to have Bill Hymes as our first Chairman and his wisdom, tenacity and coaching has got us to our current position. We are delighted that Bill Hymes has decided to continue as a Board member." 
He went on to say "We are delighted that Mike Noble has decided to join us as Chairman of the Board. His experience and accomplishments in the Financial Industry is outstanding and his wealth of knowledge combined with his managerial expertise is exactly what CIT Inc. requires at this moment in the company's growth."
Mike Noble said: "I am excited to join the CIT Board.  I am convinced that CIT offers the most comprehensive and advanced solution for check image capture today for both Financial Institutions and Corporations".
He concluded by saying: "No other competitor has all the right pieces.  CIT is a solid player with leading-edge technology, superior hardware and software support, practical experience, and the ability to lead the market into the next generation of remote deposit capture."
About Mike Noble
Mike Noble,
Chief Operations Officer & Executive Vice President of Wells Fargo Services Company - Retired.
Mike retired from Wells Fargo in May of 2006 where he managed a team of 6,500 employees and was responsible for payment and operations services to Wells Fargo's wholesale and retail groups.
His organization included 15 check-processing centers, 38 cash vaults, 10 lockbox sites and other locations that support services such as statement processing, legal-order processing, account maintenance, fraud operations, ACH payments and wire transfers. His team also managed the servicing of 5,500 Wells Fargo ATMs and 11,000 private label ATMs. In 2005, his group processed more than $80 trillion dollars in customer payments. Mike was also a member of the Viewpointe Operations Committee. Viewpointe is the largest provider of check archive and image exchange services in the United States. Before his current position, Mike was CIO of Corporate Technologies and also led the Wells Fargo/Norwest merger team. He was accountable for the technology conversions of 74 acquisitions. Mike began his career with Wells Fargo at First Interstate Bank of California in 1987 where he managed Retail Systems.
Prior to Wells Fargo, Mike was a regional account manager for EDS and managed services to 8 east coast thrifts. He also was a partner and founder of Carreker, Noble, & Associates, Inc. His career in banking started in 1972 at First National Bank in Lubbock, Texas.




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