egX Group Inc.
TSX VENTURE : GFG

egX Group Inc.

February 28, 2008 09:00 ET

egX Group Completes Design Study for New egX Securities Exchange

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - egX Group (TSX VENTURE:GFG) is pleased to report that it has completed and delivered a Design Study for the development and implementation of a new egX securities exchange for Europe (egX Europe).

As part of egX Group's corporate strategy to expand globally - the Company entered into an agreement in June 2007 with a business consortium (Consortium) from the European Union (EU) to conduct a Design Study originally for the development and implementation of an egX Marketplace for the United Kingdom (UK) and Ireland markets.

While conducting the Design Study, the "Markets in Financial Instruments Directive" (MiFID) was officially enacted on November 1, 2007. MiFID impacts the establishment of the new proposed egX Marketplace and expands its scope. Through MiFID, the EU established and adopted a comprehensive regulatory regime for the organized execution of transactions by regulated markets and created a "passport system" that will enable investment firms, banks, and securities exchanges to provide their services to all MiFID compliant member states throughout the EU from one principal location or jurisdiction. The result of the Design Study is that egX Group intends to address the EU as one large region consisting of multiple jurisdictions or member states that have passportability with other MiFID compliant member states operating within the EU.

The parties are currently reviewing the scope of the project with a view to establishing egX Europe, an egX Marketplace to service all MiFID compliant member states of the EU.

"With the prospect of expanding into the EU in the near future, combined with the upcoming launch of egX Canada later this year, we are well positioned to deliver on our corporate objectives and increase shareholder value," said Leo Chamberland, President and CEO of egX Group Inc.

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 www.egXWorld.com.

Caution regarding forward-looking information

Certain statements in this news release may constitute "forward-looking information". We have used words such as "will" to identify forward-looking information. This forward-looking information is based on current expectations and projections about the industry in which we operate, as well as certain assumptions made by our management, as at the date of this news release. Actual results may vary from the forward-looking information. Factors that could cause actual results to differ materially from those contemplated by this forward-looking information include general market and economic conditions, reliability of information systems, government regulation and changes in legislation. Many of these factors are beyond our control. egX Group Inc. discusses these factors in greater detail in filings with the Canadian provincial securities commissions.

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

Contact Information