egX Group Inc.

egX Group Inc.

December 06, 2007 07:30 ET

egX Group Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 6, 2007) - egX Group (TSX VENTURE:GFG) today provided a corporate update regarding recent accomplishments and current business initiatives.

Sale of Domain Name

egX Group reports that it has completed the sale of its domain name, which was sold in an auction through The Company received US$900,000 less commissions and fees for a net total of US$809,975. The proceeds will be used for the continuing deployment of egX Canada and ongoing operations.

Update on Design Study for United Kingdom (UK) and Ireland markets

As previously announced in June of this year, egX Group entered into an agreement with a business consortium from the European Union (EU) to complete a design study with a view to develop and implement an egX Marketplace for the Ireland and United Kingdom (UK) markets.

In October, as part of the overall awareness and profile campaign in anticipation of developing an egX Marketplace in the UK and Ireland, Company representatives met with securities regulators in Brussels, the UK and Ireland to advance the design study. The meetings focused on the regulatory regime, trading system requirements and clearing and settlement research in establishing an egX Marketplace.

Regulatory meetings were held with the UK Financial Services Authority in London, the Financial Services Regulatory Authority of Ireland in Dublin and the office of the European Commission for Internal Market and Services, who is responsible for securities markets and exchanges for the EU. On the technical side, Company representatives met with OMX to understand trading system requirements in the UK, and discussed the trade clearing and settlement environment with Euroclear UK & Ireland, Clearstream (part of the Deutsche Borse Group), and European Central Counterparty Ltd. (EuroCCP, a wholly-owned subsidiary of US Depository Trust & Clearing Corporation). The Company anticipates delivering the design study in January 2008.

New Trading Symbol

The Company further reports that it has reserved, through the TSX Venture Exchange, the trading symbol "EGX" until September 2008. The trading symbol EGX was previously used by a TSX Venture Exchange listed company until September of this year. One year must lapse before another listed company is able to use a previously listed trading symbol; therefore, the Company anticipates amending its symbol from GFG to EGX in September 2008.

About egX Group

egX Group is developing the egX, a global securities marketplace designed for the listing and trading of real estate and related financial products. The Company is preparing to launch its first marketplace in Canada under egX Canada, a wholly-owned subsidiary of egX Group. To achieve global presence and to penetrate international markets under the egX brand, egX Group is partnering with interested parties established in the key international financial centers in Europe, the Middle East, the Asia-Pacific region, and the Americas. Additional information, including the Company's business plan is made available at

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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