Innovative New Online Foreign Exchange Broker FX Capital Group Launched by Expert Team, Closes Initial Funding Round

FX Capital Group ("FXCG"), a foreign exchange and international payments
brokerage providing a full range of voice and web-based services for corporate
and private clients, announced the closing of its initial funding round led by
City of London Group Plc ("COLG") and Nauiokas Park LLP.

LONDON--(Business Wire)--
FX Capital Group ("FXCG"), a foreign exchange and international payments
brokerage providing a full range of voice and web-based services for corporate
and private clients, announced the closing of its initial funding round led by
City of London Group Plc ("COLG") and Nauiokas Park LLP.

After several months in private beta, the company is today officially launching
the FX Capital (www.fxcapitalgroup.co.uk) and RabbitFX (www.rabbitfx.com) brands
offering voice trading and payments in 40 currency pairs.FX Capital serves
corporate clients and RabbitFX serves private clients.

Led by founder and CEO Nigel Verdon, the management team of FXCG has extensive
experience in foreign exchange and electronic trading and a proven track record
in building businesses. Mr. Verdon was previously global business development
director of equities and then electronic trading at Dresdner Kleinwort, prior to
which he was co-founder and managing partner of Evolution Consulting Group.

CTO Nick Bourner, who also worked at Evolution Consulting, is an expert in
building scaleable trading platforms and was responsible for building the
systems that enabled the first $1 billion FX trade using the internet in 1998.
The sales team is led by Steve Lemon, one of the founders of HiFX, the UK`s
largest independent FX broker.

Nigel Verdon commented:

"We believe the unique combination of our experienced team, FX price
transparency promise and robust service platform will deliver to customers what
they truly want from their FX broker - great pricing and superior service."

In addition to COLG and Nauiokas Park, the investment round was subscribed by a
number of angel investors and builds on the original seed capital provided by
the founders.Henry Lafferty, non-executive director of COLG, and Sean Park,
partner at Nauiokas Park, will join the board as non-executive directors, the
former as Chairman.

Sean Park commented:

"We think there is an exceptional opportunity to build a new breed of FX broker
- a business that from its inception is built upon a foundation of 21st century
technology. A business that leverages the cost advantages afforded by having a
modern web-based infrastructure to profitably offer better value - both prices
and service - to its customers."

COLG executive chairman, David Walton Masters said today:

"We are very pleased to be investing in this expert team with proven technical
and sales skills. Their business model is based on full transparency of pricing
for clients, automated administration and lower costs than competitors. This
investment is in line with the Group`s policy of building interests in financial
services."

About FX Capital Group (www.fxcapitalgroup.co.uk)

FX Capital Group is a foreign exchange and international payments business
focused on servicing the needs of Corporate, Trust and Equity Brokerage clients.

We provide a full range of FX and international payments products delivered
through the channel most suitable to your business:

Integrated: technology-led FX services directly integrated into your business
(web site, accounting system, order management system, pricing engine etc.)

Web based: FX services accessible through a browser

Traditional: FX services over the phone

Our commitment to transparency in pricing means that we will never "quote you
cheap" to win your business, then increase our margin in the hope you will not
notice. We will maintain our agreed prices unless we have to widen spreads due
to liquidity or market volatility. We will alert you beforehand if we have to do
this.

FX Capital Group Ltd. is a privately held company with a highly experienced and
proven management team and is backed by City of London Group
(www.cityoflondongroup.com) and Nauiokas Park LLP (www.nauiokaspark.com ).

For further information, visit www.fxcapitalgroup.co.uk

About RabbitFX (www.rabbitfx.com)

RabbitFX is an FX brokerage dedicated to servicing the needs of private
clients.A full range of FX services are provided to help you buy/sell assets;
service regular payments; mitigate currency risk; and any other currency
requirements you may have.

Clients benefit from our Total Price Transparency Promise by seeing exactly at
what rate we bought the currency from the market and what rate we sold it to the
client.This gives clients complete peace of mind that they are getting the best
rate of exchange.This is unique in the FX brokerage world.

Rabbit FX combines traditional phone broking facilities with an automated,
online back office system and client area. The online platform offers increased
speed and efficiency to the payments process, eliminating human error and
ensuring that your funds are safe and will reach the destination account on
time.

RabbitFX is the private client business of FX Capital Group.

For further information, visit www.rabbitfx.com

About City of London Group PLC

Following the disposal of its public relations division in December 2007, City
of London Group PLC is now an investment company, with a wide range of national
and international investments.

The Group`s strategy is to seek above-average performance in growth and income
via a prudent mix of low, medium and higher-risk investments. A core portfolio
of income stocks, offering a high degree of security, is balanced by a higher
risk portfolio, which is primarily focused on the minerals and resources sector,
where the Board has particular experience.

In the past 18 months, significant investments have been made in Consolidated
Asset Management (Holdings) Plc (a wealth management company listed on AIM,
www.consolidatedassetmanagement.co.uk) and Fundamental Tracker Investment
Management Ltd. (a privately quoted asset management company based in Glasgow,
www.fundamentaltracker.com). These investments are part of a policy of building
a range of interests in the financial services sector.

City of London Group has been a public company since 1986 and has had a full
London Stock Exchange listing since August 1996 (LSE symbol CIN).

About Nauiokas Park LLP

Nauiokas Park LLP is a specialist investment firm providing vision, strategy,
leadership and capital to growth-stage companies with innovative business models
at the intersection of financial services, markets and technology.We focus on
identifying business models, associated technology and infrastructure with the
potential to profitably disrupt the existing industry paradigm.

Formed in 2008 by Amy Nauiokas (previously CEO of Barclays Stockbrokers) and
Sean Park (previously Head of Digital Markets at Dresdner Kleinwort), Nauiokas
Park combines financial capital with operational and strategic expertise,
original insight and deep domain knowledge of financial services and markets.Our
investment approach is predicated on our understanding of a number of key
technological, social and cultural themes that are driving a secular shift in
the structure of the global economy and markets.We invest in businesses and
entrepreneurs that are naturally adapted to succeed in this new environment.

Nauiokas Park LLP is a limited liability partnership registered in England and
Wales with registered number OC328786.Registered office: 16 Old Bailey, London,
EC4M 7EG, United Kingdom.

FX Capital Group
Nigel Verdon, +44 203 290 9972
nigel@fxcapitalgroup.co.uk
or follow fxcapitalgroup and rabbitfx on Twitter
or
City of London Group
Henry Lafferty, +44 20 7628 5518
henry@cityoflondongroup.com
or
Nauiokas Park
Pascale Dixon, +44 20 7193 4886
info@nauiokaspark.com
or follow nauiokaspark on Twitter

Copyright Business Wire 2009