WORLDSPREADS TO LIST NEXT WEEK

3 August 2007

Irish financial and sports spread-betting firm to float on AIM

The Irish financial and sports spread-betting firm Worldspreads hopes to raise in the region of Euro 8 million in development capital next week when it launches on the London AIM with a market capitalisation target of Euro 37 million.

Founded in Dublin in early 2000 by Conor Foley and Brian O'Neill, WorldSpreads offers prices by telephone and online on a wide range of sports and financial markets, including individual shares, stock indices, currencies, commodities and interest rates and is reported to have a client base of at least 2 000 members. It is registered with the FSA in Britain.

The firm has offices in London, Dublin, and Athens and joint venture arrangements with partners in Spain, Germany, Austria, Hungary and South Africa.

CEO Foley worked in the financial services sector for 11 years before founding Worldspreads and has a Masters in economics from the University of Dublin. He was Chief Dealer with Smurfit Paribas Bank from 1995-1998 (having joined the bank in 1989) with overall responsibility for the risk management of the bank's foreign exchange. He has twice been shortlisted by Ernst & Young for Entrepreneur Of The Year in Ireland.

His co-founder is chief operations officer at Worldspreads, Brian O’Neill, who had 12 years experience in investments and treasury with various financial institutions in Dublin prior to establishing WorldSpreads. He was responsible for both the currency management and interest rate management of the liabilities of the Insurance Corporation of Ireland, from 1990 to 1995. He moved to Irish Life Investment Managers in 1995, where among other tasks, he researched and set up benchmarks for the quality and efficiency of trading. He is a finance graduate from University College Limerick.

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