News

October 13, 2005

Metropol (UK) Limited Upgraded to Category B Firm.

Metropol (UK) Limited ("METUK) was granted a "Variation of Permission" by the UK Financial Services Authority, which upgraded its Category to B, from C.

The variation and upgrade were applied for primarily to support METUK’s Coprorate Finance business. As a result, METUK can now play a more significant role in the coporate finance process.

In technical terms, METUK has been granted additional permission to perform the following regulated activites:Holding and controlling of Client Money Causing dematerialised Instructions to be sent.

The above permissions will allow METUK to act as a "Placing Agent" when engaged in Corporate Finance Deals. This means that, in addition to current activites, METUK now has the capability to carry out the transactions of transferring subsciptions for shares and arranging for the delivery of non-certificated (dematerialised) shares.

The Variation and Upgrade are not limited to the above business activities, and there may be potential for further business development.

Notes to editors: UK Investment Firms are categorised between "A" and "D", depending on the scope of activity they can perform, and consequently, what risk they pose to the industry, consumers and the investing public. "A" Firms are the highest category.METUK is Authorised and Regulated by the UK Financial Services Authority ("FSA") and is a member of the London Stock Exchange. The FSA regulates UK financial services and banking Under the Financial Services Act of Parliament of 2000, firms must apply for approval with the FSA prior to engaging in any regulated activity. The type of activity a firm can perform is dictated by its Permissions.

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