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CIBC selects UTR and FTS as the solution to manage over $200 million in telecommunications expense.

Toronto, OntarioMarch 23, 2005 – UTR, the leader in financial telemanagement solutions has signed a corporate agreement to provide their web based Financial Telemanagement Software (FTS) and implementation services to both CIBC and CIBC World Markets for North America.

The contracted services include a Physical Inventory of all telephony and computer assets; Billing Verification of all vendor bills; the Creation of a centralized asset and billing repository within FTS and licensed use of the Financial Telemanagement System, known as FTS.  Additionally, UTR is also providing 2 staff members as part of their “leave-behind” program to help with the corporate wide roll-out of FTS within CIBC.  CIBC is a leading North American financial institution comprising three strategic business lines:  CIBC Retail Markets; CIBC Wealth Management and CIBC World Markets.  CIBC provides financial services to more than nine million clients.  CIBC has approximately 37,000 employees worldwide, operates over 1,073 branches and 4,100 ABMs.

Donald Murphy, UTR’s Vice President of Sales and Marketing comments, “CIBC put forth a rigorous selection process to find the best solution in the marketplace and being selected has confirmed UTR’s hard work and market position.  I am very proud of my company.”

Contact Patrick Connolly for further information at pconnolly@utrglobal.com or 201-567-6060.

About UTR – UTR is the market leader of management solutions and software for the corporate telecommunications and IT environment.  For more information on UTR, please visit www.utrglobal.com.