ETX GROWS REVENUES BY 35%

Pan-European financial services firm ETX Capital, today announces its results for the financial year ended 31st December 2010. The firm achieved revenues after the cost of Broker funding and commission of £16.3m versus £12.0m in the prior year.

Dr John Wilson, Executive Chairman of ETX Capital said: “Despite challenging markets, the Company grew revenues by 35% and has successfully diversified its revenue stream, reducing the dependency on any one business unit or customer grouping. Revenue growth is critical to the Company and is being achieved through geographic and product expansion. The Company has launched in Germany and is launching in other countries. The product range has been expanded with 6,000 instruments, an iPhone trading application and full CFD trading suite. This growth is being pursued while at the same time maintaining a disciplined approach to costs. In 2010, the Company pursued a rigorous policy of efficiency gains that have resulted in cost savings and an operating margin on incremental revenue of 60%. The Company expects to grow through 2011 and is targeting a substantial increase in profitability and returns on equity, over the medium term, which are above the industry average.”

Andrew Edwards, Chief Executive Officer of ETX Capital added: “2010 has been a successful year for the firm. Our Revenue places us in the top 5 largest CFD and spread trading firms operating in the UK market. A key driver of our growth is impeccable Customer Service and I am extremely proud of our team. This customer led approach spreads throughout our business operations from Technology and Operations to Client Support, Trading and Sales and is ingrained in the culture and DNA of our business. We believe we have the right foundations in the people who work here to lead us into the next stage of our development, which will involve international expansion, unique product development and effective marketing and risk management.

ETX Capital, a regulated Pan-European financial services firm, provides institutional, high net worth and retail customers with multi asset and multi market derivative dealing capability through CFDs and spread betting products. The firm uses cutting edge technology and delivers unrivalled levels of customer support from knowledgeable staff and with the utmost client confidentiality. ETX Capital is the trading name of Monecor (London) Limited, incorporated in 1965.