GlobalCapital plc - Opening of Representative Office in Libya

In February 2006, Global Financial Services Group plc will be opening a Representative Office in Libya after having obtained a licence from the Libyan General People’s Committee for Economy and Trade. This office is intended to promote the Company in Libya and facilitate business cooperation in the North African region.

The Company will not be carrying out any trading activity from its Representative Office in Libya. The opening of such an office also forms part of the Company’s strategy to identify and evaluate new business opportunities overseas.