4Less Joins Forces with Ekwienox – giving a major boost to its prestige property finance arm and Corporate FX reach

Monday, 13 February 2006

The 4Less Group has announced that it is now joining forces with the financial products and services Group, Ekwienox Limited. The companies have entered into an investment agreement which will enable 4Less to augment its leading position in Retail Foreign Exchange (FX) with a major expansion into the Corporate FX market.

The investment will allow 4Less to develop its fully automated and integrated dealing and accounting platform to support the anticipated volume growth. Similarly, the agreement will enable Ekwienox to provide its clients with a comprehensive range of FX brokerage services.

The 4Less Group aims to accelerate its growth in the UK as a premium provider of tailored overseas financial services including the arrangement of international mortgages, foreign currency transfers, regular payment plans and international insurance. Working with Ekwienox and its extensive corporate client contacts, the Company now intends to expand its currency business from the retail sector into the corporate sector covering banks, estate agents and developers.

Richard Collier, CEO of The 4Less Group Plc said: "We welcome the involvement of a company of the calibre of Ekwienox. Our plans for co-operation will significantly enhance our status in the corporate sector and provide a major impetus to the development of our Group."

Mohammad Kousha, Group Marketing Director of Ekwienox Limited, added: "Ekwienox is looking forward to working with the 4Less Group. There is good synergy between the companies. Working together we will provide our combined client base with a comprehensive range of financial products and services and build a significant presence in the Retail and Corporate FX markets in the UK. "

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