Kuala Lumpur, 5 June 2001 - Labuan International Financial Exchange (LFX) wishes to announce the appointment of Mr. S. Loganathan as General Manager with effect from 1 June 2001.

Loganathan, 42, is a graduate in business administration and has been with the Kuala Lumpur Stock Exchange Group since 1990, first as Head of Market Development from July 1990 to January 1999 and as General Manager of the Kuala Lumpur Options and Financial Futures Exchange until May 2001.

Loganathan has over 20 years combined experience in journalism, training, market development and executive management in the securities industry.

On his appointment, Loganathan said the immediate priority is to promote LFX further to ensure greater awareness and support by all industry participants.

"I look forward to working closely with members of the LFX Board and Committee, the Labuan Offshore Financial Services Authority (LOFSA) and relevant industry participants towards developing LFX into a premier offshore exchange," he said.

LFX, an offshore exchange wholly owned by the Kuala Lumpur Stock Exchange, has been identified as one of the key components in promoting Labuan as an offshore financial centre. Based in Labuan, LFX offers the listing of securities and financial instruments and is being developed into an offshore exchange complete with listing and trading capabilities.