Midastrade.com Inc.

Midastrade.com Inc.

August 09, 2005 13:14 ET

MidasTrade Update on Korean Business; Launch of Customized Translation and Full Automation Services

BUENA PARK, CALIFORNIA--(CCNMatthews - Aug. 9, 2005) - MidasTrade.com Inc. (PINK SHEETS:MIDS) in its efforts to keep shareholders and members of the financial community current on the company's activities, has provided the following update to its shareholders.

MidasTrade has completed development of automated integration services for use between MidasTrade's account systems and their client's back office system. These automated integration services allow seamless sharing of account, equities and positions information between MidasTrade and the Korean brokerage firm. For the end customer, it means full access to their account information through the MidasTrade trading platform, provided by their brokerage firm. This back end integration is being launched with MidasTrade's client, Daishin Securities and will be rolled out to the company's other clients.

MidasTrade has also recently released a new customized translated version of its platform for the Korean market. This updated version of MidasTrade GDAN includes fully translated screen tabs, comprehensive charts, drop down menus and directories, and will further enable Korean investors to use the system with greater ease and confidence. Daishin Securities reviewed this new release and has requested that MidasTrade integrate this latest version as part of their launch of the MidasTrade GDAN.

In addition, Daishin Securities requested that MidasTrade build an automated system for processing new customer accounts. The result of this automation means that Daishin Securities can open and establish customer accounts on their system, which will automatically update MidasTrade's system, saving time and duplicate paperwork for new client accounts. MidasTrade has been working extensively on this system for Daishin Securities and is near completion of the automation and integration features.

As a result of these additional features and services being developed and integrated for Daishin Securities, MidasTrade recently agreed with Daishin Securities to test new development on September 6 and will commence live trading on September 19. Although this date is later than the company would have liked to announce, it provides the necessary time for MidasTrade to complete and test the additional features it has developed for Daishin Securities. It also allows Daishin Securities to train its employees on the system and prepare its marketing campaign for these services.

While MidasTrade is committed to making Daishin Securities the second Korean brokerage customer to offer direct access trading of U.S. securities, it also remains committed to its agreements with Woori Investment and Securities (formerly LG Investment and Securities) and E-Trade Korea to provide them with MidasTrade GDAN. Both companies along with Goodmorning Shinhan Securities will benefit from the additional features MidasTrade has built for Daishin Securities. Woori and E-Trade Korea look forward to launching MidasTrade GDAN, once trading for Daishin Securities has commenced.

About MidasTrade.com Inc.

MidasTrade is a U.S. based company that allows international investors to trade U.S. securities, options and futures in real time through the MidasTrade Global Direct Access Network (GDAN). MidasTrade GDAN provides investors with immediate execution and confirmation of their trades with minimal surcharges and commissions. The company successfully launched MidasTrade GDAN in South Korea and the U.S. in March 2002 and plans to expand to Canada, Hong Kong and Europe. Additional information is available at www.midastrade.com.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

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