MAC Sharaf granted a brokerage licence

MAC Sharaf Securities (U.A.E.) LLC., is a joint venture between the Sharaf Group, Mohammed Abdul Rahim Al Ali and McMillen Advantage Capital Limited ('MAC'). Seven international brokers and corporate advisors, based in London, Tokyo, Paris, Hong Kong, Geneva and Bangkok are all shareholders of MAC and will all support the growth of MAC Sharaf.

Mr. Sharafuddin Sharaf, MAC Sharaf's Chairman, said of the new joint venture, 'Our partners bring a tremendous amount of experience in the securities market to Dubai and intend to show case the U.A.E. to the World through their international network of brokers.'

'We will be a very different type of broker in this Market,' said Robert W. McMillen, MAC Sharaf's Vice Chairman and founder of MAC. 'Our group's fundamental research product, technical analysis and high level of corporate governance, all supported by our international partners, will be available to all our clients in both the U.A.E. and internationally. We will also use the latest online systems and provide trading, research and real-time access to our clients online.'

Michael Fernandez has been appointed Managing Director of MAC Sharaf. He believes that, 'We have recruited an excellent team, with the right blend of enthusiasm and experience and with an aggregate industry experience of over 50 years, 15 of those on the DFM.'