Dharma Holdings Launches Portfolio and Funds Management Company in France - Europienne de Gestion Privie

4 major trading innovations introduced in the areas of commissions, client relationships, Metabanking and technology from Financial Tradeware

Bordeaux, France, 13th May 2004 - Dharma Holdings S.A., the Luxembourg based holding company, today launched a new portfolio and fund management firm - Europienne de Gestion Privie (EGP). EGP has its registered office in Bordeaux and has two further branches in Toulouse and Rome, the company is to be officially launched this evening at an event organised for its clients from across Europe.

Europienne de Gestion Privie is authorised by the Autoriti des Marchis Financiers (former Commission de Opirations de Bourse) since 27th July 1990, reg. no. 90052. The company manages accounts under mandate and Investment Funds for high net worth individuals. After being taken over by Dharma Holdings in 2003, EGP has been going though a reorganisation process to introduce vital innovations that will improve both the efficiency and quality of services provided to its clients.

EGP has been focusing on four main areas; commissions, trader-client relationships, Metabanking and trading technology. The first fundamental change at EGP is the complete absence of indirect commissions or shared commissions with providers of services (i.e. the custodians and brokers), in order to avoid any kind of conflict of interest with its clients. The second is the introduction of the direct relationship between the trader and the client guaranteeing full transparency of services. Thirdly, EGP searches for the lowest costs available on the market (trading, custody, clearing and settlement) following a new concept of Metabanking (see www.dharma.lu for more information). Finally, EGP has implemented technology from Financial Tradeware to enable the Straight Through Processing of its trading, administration and accounting processes - this will reduce risk in the organisation and increase the efficiency of operational processes.

M. Fadi Chamas, Directeur Giniral at Europienne de Gestion Privie comments "We are delighted to launch EGP as a new breed of portfolio and funds management company that is designed with client-centric methodology. Our mission is to provide our clients with the maximum return on their investment possible and we firmly believe that our new innovations combined with the skill of our traders will allow us to surpass all of their expectations."

Alberto Fontana, Managing Director of Financial Tradeware adds: "We have been very pleased with the implementation of both the UltraSuite(tm) and S-Messenger(tm) at EGP and have already seen measurable benefits from the technology in terms of increased automation and cost efficiency. We look forward to being able to supply EGP with the new .NET versions of our products later on this year."

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