Yucheng Technologies Limited Announces Appointment of Lawrence Yeung, Former Head of Information Technologies at the United Nations, as an Independent Director

Yucheng Technologies Limited Announces Appointment of Lawrence Yeung, Former Head of Information Technologies at the United Nations, as an Independent Director

October 03, 2007

    BEIJING, Oct. 2 /Xinhua-PRNewswire-FirstCall/ --
Yucheng Technologies Limited (Nasdaq: YTEC), a leading IT
and outsourced service provider to the Chinese banking
industry, today announced that the Board has appointed Mr.
Lawrence Yeung, former Head of Information Technologies at
the United Nations to replace Mr. Michael (Tao) Huang, who
resigned from its Board of Directors and Audit Committee on
September 17, 2007. Over more than 20 years before his
retirement, Mr. Yeung established a successful track record
as an information technology innovator and director of
information systems and technologies at the United Nations
and the United Nations Development Programme. Mr. Yeung was
responsible for implementing global information and
communications systems in over 145 country offices,
including acclaimed global safety and security systems. In
addition to overseeing the UN's vast internal information
systems, Mr. Yeung's assisted member and developing
countries around the world in the application of
information systems and technologies. Mr. Yeung also served
extensively on the UN's financial, personnel and procurement
committees, and oversaw the award of contracts and
subsequent project implementations. An Australian citizen,
Mr. Yeung is an accomplished graduate of computer science
and electronic engineering from the University of Sydney
and the University of New South Wales.

    Mr. Chih T. Cheung, Chairman of Yucheng's Board,
stated: "We are pleased and excited that Mr. Lawrence
Yeung has accepted our invitation to be an independent
board member and Audit Committee member of Yucheng. We
believe that his many experiences in large scale
information and communications systems and his prior
governance and oversight roles, will strengthen our Board
on many levels. We welcome him and look forward to his many
contributions."

    About Yucheng Technologies Limited 

    Yucheng Technologies Limited (YTEC) is a leading IT and
outsourced service provider to the Chinese banking industry.
Headquartered in Beijing, China, Yucheng has more than 1,200
employees and has established an extensive footprint to
serve its banking clients nationwide with nine subsidiaries
and representative offices located in Shanghai, Guangzhou,
Xi'an, Xiamen, Zhengzhou, Kunming, Nanjing, Changsha and
Chengdu. Yucheng provides a comprehensive suite of IT
solutions and services to Chinese banks including 1) system
integration and IT consulting, 2) solutions and software
platform, and 3) outsourced operations. Yucheng counts 13
out of the 15 top banks in China as its customers, and is
especially strong in banking channel management IT
solutions and services, such as web banking and call
centers, and risk/performance management solution
consulting and implementation service. It is also rapidly
becoming one of the leading third party providers of POS
merchant acquiring services.

    Safe Harbor Statement

    This press release includes forward-looking statements
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 that involve risks
and uncertainties. Forward looking statements are statements
that are not historical facts. Forward-looking statements
generally can be identified by the use of forward-looking
terminology, such as "may," "will,"
"expect," "intend,"
"estimate," "anticipate,"
"believe," "project" or
"continue" or the negative thereof or other
similar words. Such forward- looking statements, based upon
the current beliefs and expectations of Yucheng's
management, are subject to risks and uncertainties, which
could cause actual results to differ from the forward
looking statements. The following factors, among others,
could cause actual results to differ from those set forth
in the forward-looking statements: current dependence on
the PRC banking industry demand for the products and
services of Yucheng; competition from other service
providers in the PRC and international consulting firms;
the ability to update and expand product and service
offerings; retention and hiring of qualified employees;
protection of intellectual property; creating and
maintaining quality product offerings; operating a business
in the PRC with its changing economic and regulatory
environment; and the other relevant risks detailed in
Yucheng filings with the Securities and Exchange
Commission. The information set forth herein should be read
in light of such risks. Yucheng assumes no obligation to
update the information contained in this press release.

    For more information, please contact:

    In Beijing, China
     Ms. Wei Peng
     Investor Relations, Yucheng Technologies Ltd.
     Tel:   [phone]
     Email: [e-mail]

    In the U.S.A.
     Mr. Jim Preissler
     Director, Yucheng Technologies Ltd.
     Tel:   [phone]
     Email: [e-mail]