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WorldSpreads Sets Up Operations in Malaysia

WorldSpreads Group, Ireland's leading spread trading firm officially opened their offices in Kuala Lumpur on March 18th 2008, as part of a €2 million euro expansion of its operations in Asia. The company expects to have up to 20 staff employed at the new facility by the end of the month.

WorldSpreads' offices in Kuala Lumpur, Malaysia, are to be used initially to provide technical support for its online trading system, which is designed to deliver spread trading services to clients in Ireland and overseas. However, WorldSpreads plans to begin providing services to clients in Asia over the coming months.

Conor Foley, Chief Executive Officer, WorldSpreads Group, said: "Spread trading is becoming increasingly popular, not just in developed countries, but also in emerging markets. As several of the most populous countries on earth are located in Asia, it makes sense for us to consider how best we can expand our business there".

"Although we are headquartered in Ireland, we have set up revenue sharing deals internationally, in a number of European countries. Our priority over the coming six to nine months is to maintain our growth in Ireland and Europe, while building a foothold further overseas in our target Asian markets," said Mr. Foley.

WorldSpreads Group - which is listed on the London-based Alternative Investment Market (AIM) - provides spread trading services in Germany, France, Hungary and Spain. The company is now pursuing opportunities to expand its offering in Indonesia, Singapore and China.

"The volatility in the world's stock markets that has prevailed over much of the last year has been of enormous benefit for us, as it has allowed clients to trade on upward or downward movements in the markets," said Mr. Foley.
"The resulting growth in our business - which has seen our share price more than double since our flotation - means that we're now in a position to build our business in other markets, which is why our Asian operations are likely to take on increased importance in the coming months," he said.

The Tánaiste and Minister for Finance of Ireland, Brian Cowen officially opened the offices in Kuala Lumpur, Malaysia on March 18th 2008.

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