MIAC allows U.S. investors to directly pick up exposure to a financial services company in India.
A Snapshot of Financial Services in India
* Vast, untapped markets; over a billion people, less than 3% invested in the markets
* Managed assets in India to grow from $170 billion to over $1 trillion by 2015 (Boston Consulting Group Research)
* India has one of the highest savings rates in the world, with over $180 billion in savings accounts
* Amongst the lowest penetration of insurance, credit card, and mortgage products among emerging market economies
* One of the fastest growing sectors in one of the fastest growing economies, with the Finance Minister committing to make this sector the "next growth engine" of the Indian economy
* Attracted investments from General Atlantic Partners, Goldman Sachs, Citigroup Venture Capital, New Vernon Capital, Morgan Stanley, Fidelity, Merrill Lynch, NYSE, Deutsche Borse, BNP Paribas, Lehman and Carlyle, to name a few
MIAC's investment in SMC provides investors with a unique opportunity to directly participate in the growth of India's financial sector
* One of the fastest growing financial services companies in India: Revenues and net income up approximately 3x and 10x since FY05
* Diversified business model, spanning equities, commodities, online trading, institutional, insurance, mutual funds, investment banking, clearing, settlement and research. Ranked by Dun & Bradstreet as third largest in India, in terms of trading terminals (June 2007)
* One of the largest pan-India retail financial distribution networks, over 1200 location spread over 300+ cities in India, 7500+ financial advisers. International presence in Dubai
* FY07 executed over $100 billion in customer transactions
* Currently handling more than 175,000 transaction per day
* Potential to expand further due to underpenetrated financial sector in India, coupled with infusion of growth capital from MIAC
"As the world's largest electronic stock market, spanning six continents, NASDAQ OMX promotes innovation and attracts leading growth companies from a diverse group of sectors and we are thrilled to have Millennium India Acquisition Company Inc. as part of the NASDAQ OMX Family," said Bob McCooey, Senior Vice President of New Listings and Capital Markets of The NASDAQ OMX Group, Inc. -- www.nasdaq.com
