First Mutual Credit CEO, Shaun Morgan Launches Emerging Market Corporate Bond Index

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 5, 2007 -- New Benchmark Tracks Emerging Market Credit Quality and Trading Performance
New York, October 01, 2007

First Mutual Credit is pleased to announce the introduction of the FMC Emerging Market Corporate Bond Index, a performance benchmark exclusively devoted to USD denominated fixed income issues from Latin America, Eastern Europe and Asia. The new Index currently includes the US denominated corporate bonds of 366 issuers with a market value of nearly US$125 billion.

Complementing the Bank's Asian Bond Index, the Emerging Market Index designed to meet the increasing demand among institutional investors globally for emerging market corporate bonds as long-term credit quality and trading performance have continued to strengthen.

"The growth of corporate bond issuance in emerging markets creates the need to expand performance monitoring beyond the sovereign bond market," said Shaun Morgan, Chairman of First Mutual Credit
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The Emerging Market Index provides an accurate reflection of market volatility, industry trends and risk perception. Prices are updated daily based on current transactions and market-making activities. The Index's technology platform allows users to easily compare the performance of different asset classes, maturity buckets and corporate sectors.

Investors can also customize benchmark portfolios and construct various sub-indices by industry sector, region and rating.

"The Emerging Market Index is a powerful investment tool that allows clients to leverage First Mutual Credit’s market leading Emerging Market franchise and market knowledge, as well as our technology and analytic capabilities," said Shaun Morgan, FMC Chairman.

"Our clients are increasingly pursuing opportunities in Emerging Markets worldwide. Based on discussions with our clients, we expect to see great interest in a global index that enables investors to compare regions to one another," said Jay Leisenberg , President of Credit Committee at FMC.

Bond rating categories include High Grade, High Yield, and Distressed asset classes. Bonds with an investment grade rating from one or more agencies are categorized High Grade. Bonds designated as High Yield are based on an average of ratings above CCC and below BBB-. Bonds with an average rating of CCC and below are considered Distressed. About 79% of the securities in the Index are classified as pure "corporate." Others from companies that are majority owned, or implicitly backed, by their government are classified as "quasi-sovereign."

About First Mutual Credit

First Mutual is an international, specialist investment banking group that provides a diverse range of financial products and services to a select client base.

Founded as a online securities company in 2000, we have acquired various regulated entities and competitors in a bid to become a premium underwriting investment bank and global financier. We now have more than 10 wholly owned subsidiaries in 7 different country’s varying from Securities Dealing, Coal Mining Management, Timber Plantation Management, Retail Investment Banking, Private Fund Management, Stock-broking Services, Foreign Exchange Trading and Project Underwriting. The total issued capital of First Mutual is US$120,000,000.00

Since inception, we have expanded through a combination of substantial organic growth and strategic acquisitions. Today, we have an efficient integrated international business platform, offering all our core activities in New Zealand , Australia , Singapore , Indonesia , Germany and U.S.A, with approximately 400 employees.

We are organized as a network comprising eight business divisions: Private Client Activities, Treasury and Specialized Finance, Investment Banking, Asset Management, Project Underwriting, Foreign Exchange Trading and Retail Stock-Broking. Our head office provides group-wide integrating functions and is also responsible for central funding and the Trade Finance business.

Our strategic goals and objectives are based on an aspiration to be recognized as a distinctive specialist investment banking group. This distinction is embodied in our entrepreneurial culture, which is balanced by a strong risk management discipline, client-centric approach and ability to be nimble, flexible and innovative. We do not seek to be all things to all people and aim to build well-defined, value-added businesses that serve the needs of select market niches where we can compete effectively.

More information can be found online at http://firstmutualcredit.net

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