Press announcement Stockholm 29 November 2000 MFEX BECOMES LEADING MUTUAL FUND SUPERMARKET ENABLER IN EUROPE  B2B platform for mutual funds continues Eur

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Press announcement Stockholm 29 November 2000 MFEX BECOMES LEADING MUTUAL FUND SUPERMARKET ENABLER IN EUROPE  B2B platform for mutual funds continues Eur Powered By Docstoc
					Press announcement            Stockholm, 29 November, 2000

          MFEX BECOMES LEADING MUTUAL FUND
           SUPERMARKET ENABLER IN EUROPE

     B2B platform for mutual funds continues European expansion with Netherlands
       launch
     Planned expansion in the UK and Germany next year

London, 29 November 2000. MFEX, Mutual Funds Exchange, today announces a deal
which will make it the leading Mutual Fund Supermarket enabler in Europe. The B2B
marketplace has linked up with Dutch company FundCoach, the first Dutch online mutual
fund supermarket. FundCoach is owned by the management team, Beethoven
Participaties B.V. and SNS Reaal Invest N.V.. MFEX has also announced its intention to
expand into England and Germany in the first quarter of next year.

MFEX, Mutual Funds Exchange, is an electronic marketplace and a service enabler
providing European Mutual Fund Supermarkets with on-line execution and settlement of
funds, and access to proprietary fund information databases. MFEX is owned by Latitude
AB, Ledstiernan AB (publ) and private investors.

“To date, mutual funds assets amount to 3 000 billion Euros with substantial projected
growth, they are likely to form an essential part of tomorrow’s capital accumulation in a
changing European Community. MFEX enabled Mutual Fund Supermarkets, like
FundFocus, are well equipped to meet customer demands by providing immediate access
to the full range of mutual funds on-line” commented Stellan Forsberg, CEO of MFEX.


“ We have chosen MFEX as our partner for two reasons: MFEX has Europe’s widest
range of mutual funds on-line, a system that handles large transaction volumes and has
the high quality our customers demand. MFEX also offers a cost efficient solution and
gives us the time to market we need, says Jeroen Vetter, CEO, FundFocus.
MFEX’s system is implemented at a low initial cost linking the world’s mutual fund
providers to the investors of Europe and thereby changing distribution patterns to the
benefit of all participants in the value chain.

MFEX is meeting the growing demands and needs of the European Common market,
potentially embracing more than 300 million investors.

In addition MFEX offers a storehouse of fund information and an inexhaustible source of
smart solutions, such as the MFEX Rating ™, unique modular analysis tools and alert
functions.

With a growing number of MFEX enabled Mutual Fund Supermarkets in Europe, mutual
fund providers can build on a much broader customer base.

                                         - ends -

Editor’s notes:

For Further information, please contact:
Oliver Lagerström, Head of MFEX Scandinavia, +46 8 545 186 06, +46 709 515186
oliver.lagerstrom@mfex.se

Press clips: www.mfex.se

Burson-Marsteller

MFEX enabled sites:

Fondmarknaden.se

Fondmarknaden.se is a Swedish Mutual Fund Supermarket on-line. It opened for trade in
November 1999 and is now Swedens largest independent retailer.

FundCoach
FundCoach is the first Dutch online mutual fund supermarket. FundCoach is owned by
the management team, Beethoven Participaties B.V. and SNS Reaal Invest N.V., the
venture capital arm of SNS Reaal Group.

				
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