MAC Capital Group joins with Australian broker

MAC and Tolhurst have agreed to explore mutually beneficial commercial opportunities to cross market products including stock broking in both the Australian and U.A.E. markets, cross listings on the DIFX and equity placements for Australian companies through MAC's international network.

Tolhurst's principal activities are private client investment advisory services, stock broking and associated financial services, and corporate advisory services. Its shares are listed on the Australian Stock Exchange and it is a member firm of the ASX and a Principal Member of the Financial Planning Association of Australia Ltd. With a 150 year history and twelve offices in Australia, including Melbourne, Sydney, Perth, Adelaide, Brisbane and the Gold Coast, Tolhurst is a significant financial services group.

MAC is a company incorporated in Hong Kong and founded by its Chairman and major shareholder, Robert W. McMillen. The Company has established two operating companies in Dubai, namely:

MAC Sharaf Securities (U.A.E.) LLC, which is owned by MAC (49%) and Sharaf Investments LLC (25.5%) and by Maj. Gen. Mohammed Abdul Rahim Al Ali (25.5%). MAC Sharaf is fully licenced to trade local shares in the U.A.E., a stock broker on the Dubai Financial Market, and the Abu Dhabi Securities Market and it may also trade shares on the Dubai International Financial Exchange ("DIFX").

MAC Capital Limited, a wholly owned subsidiary of MAC, is approved as a Category 2 Authorised Firm within the Dubai International Financial Centre. MAC Capital offers its clients a full range of financial, broking and investment banking services, including mergers and acquisitions, listings, underwriting, corporate advisory and securities brokerage with a focus on cross border transactions. It also has a seat on the DIFX.

David Browne, Executive Chairman of Tolhurst, said: "We are extremely excited about the cross border prospects between Australia and the U.A.E. MAC is very well positioned in Abu Dhabi, Dubai and in the DIFC and our extensive network in Australia will enable each of us to identify opportunities to work together. MAC's international partnerships in London, Paris, Hong Kong, Geneva, Tokyo, the PRC and Bangkok may also provide us with access to a truly international distribution network. We believe that our two companies can support each other and create opportunities for our current and future businesses."

Robert W. McMillen, MAC's Chairman and Founder added "Tolhurst has a very proud history and is clearly a market leader in Australia in the provision of a variety of financial services. It has top level board room connections in Australia and a deep knowledge of the market. The potential of the DIFX is not lost on the Australian market and we have already seen several Australian companies list here. The potential to raise capital in the GCC and to seek a new investor base here is also substantial. We are delighted to have been selected as Tolhurst's partner in the U.A.E."

MAC also recently announced the continued support of one of its founder shareholders, the Quam Group, a financial conglomerate based in Hong Kong and listed on the Hong Kong Stock Market. Quam's increase in its holding in MAC to 22.93 per cent, demonstrates MAC's growing strength in Asian markets.