SYCAP Group AB (publ) enters joint venture agreement with Power Capital Forex Management, Ltd in Taiwan

SYCAP Group AB (publ) enters joint venture agreement with Power Capital Forex Management, Ltd in Taiwan

SYCAP Group AB (publ) enters joint venture agreement with Power Capital Forex Management, Ltd in Taiwan.

SYCAP Group AB (publ) ("SYCAP"), the financial software and online financial services company, obtains through its joint venture with Power Capital Forex Management, Ltd ("PCAP" www.pcapitalforex.com) a customer base in Asia and a channel into the Asian marketplace. PCAP will be integrated into SYCAP as a division. According to the agreement all of PCAPs customers will be transferred to SYCAP.

PCAP currently owns a license to offer the trading platform MetaTrader. Through the joint venture agreement SYCAP will be able to offer MetaTrader to its clients as an alternative to create value for existing customers and to attract new ones.

"Through our joint venture with PCAP we create an inroad towards Asia where we quickly can act on opportunities in Taiwan and China. PCAP already has an active customer base which immediately adds to SYCAPs revenues as soon as the integration is finished," said Stefan Willebrand, COO of SYCAP Group AB (publ).

SYCAP is currently conducting a new share offering which will supply the company with extra capital in order to expand its resources in order to act on opportunities that have been presented to the company.

A memorandum for the share offering can be downloaded at www.sycapgroup.com.

Notes to Editors:

For further information, please contact: www.sycapgroup.com

John Rowe, Chief Executive Officer Tel. +44 (0)20 8123 1586
Stefan Willebrand, Chief Operating Officer Tel. +46 (0)8 501 64 941

Notes to Editors:

SYCAP Group AB (publ) is an online financial software and services company. The main business is to develop and license software for the financial community as well as operating a number of financial services.

SYCAP Group (publ) is involved in the fastest growing segment of the financial sector. SYCAP develops complete solutions for trading CFD, Financial Spread Betting and Foreign Exchange. SYCAP has developed solutions for charting the financial markets on the Internet together with automated trading systems. SYCAP offers currency exchange online as one of Sweden's first currency brokers on the Internet.

SYCAP Group AB (publ), Rådhusgatan 2, 541 30 SKÖVDE, SWEDEN, Org. nr. 556697-8069