ASX / Enterprise Market Broadens Reach

The Australian Stock Exchange (ASX) today unveiled a pilot joint venture with a number of leading financial institutions to boost capital investment in emerging businesses through its Internet-based Enterprise Market (e.m). Institutions including the Commonwealth Bank and six e.m registered business advisers - leading financial services group Ord Minnett, stockbroker Dicksons, accounting firm William Buck, management consultants Bentleys MRI, lawyers Heath+Fletcher and corporate advisers Pacific Capital Corporation - will be involved in a pilot program to promote investment in potential high-growth Australian companies. Details of the project are now being finalised and are expected to be announced early next month. e.m is an Internet-based market which helps non-listed businesses raise up to $5 million capital without the expense of preparing a prospectus. It was established last year to address the capital-raising difficulties faced by small- and medium-sized businesses in Australia. ASX Managing Director Richard Humphry said: "In just over 12 months, the Enterprise Market has facilitated the injection of more than $20 million in capital from private investors, with an average of around $1.5 million per business." "Figures indicate it was the most successful private equity capital-raising vehicle in Australia in the last financial year. "The involvement of Commonwealth Bank will enhance the success of the market. "The combination of two powerful financial services organisations in the Commonwealth Bank and the ASX, along with Ord Minnett and some of the country's pre-eminent stock broking and advisory companies, will help e.m reach a much larger community of SMEs and investors." e.m National Manager Dr Barry Westlake said that a network of more than 200 corporate and financial advisers across Australia is now registered with the market. "e.m allows each of them to become a 'business matching service' and helps them to work together in a manner which wouldn't otherwise happen," he said. "In places like Silicon Valley, everyone knows what's going on. The informal networks of corporate and financial advisers know a lot about all of the deals which are available - not just their own portfolios." "In Australia, it's not unusual for people in the same advisory firm to be in the dark about the deals their colleagues are working on, let alone projects happening in the rest of the private investment community. e.m is rapidly helping overcome this problem." More details about the Enterprise Market are available on 1800 016 766, or through the e.m web site: www.em.asx.com.au.