About LINWAR

In late 2002 international financial services giant BNP Paribas, desiring to exit its Australian investment banking operations, supported 3 of its local executive directors and 8 other staff to establish a new specialist small-mid cap broker in its Castlereagh Street Sydney offices. LINWAR was born.

A clear focus on providing independent, high quality share trading advice and execution to institutional clients has seen LINWAR grow rapidly in the ensuing years.

In providing the pre-eminent forum for ASX ex-100 companies to address their current and prospective institutional shareholders, LINWAR has proved its value and cemented its extensive client relationships.

LINWAR outsourced its back-office needs to ETRADE Australia Limited ("ETRADE"). In April 2005 ETRADE purchased 50% of LINWAR's shares from LINWAR's directors and staff thereby creating a partnership to maximize growth opportunities.

ETRADE's large, dynamic retail investor presence complements LINWAR's institutional relationships. ETRADE, 100% owned by ANZ Banking Group Limited, provides an entrée for LINWAR's corporate clients to the Bank's financial strength and expertise.

In July 2008 LINWAR again expanded its presence in the Australian equities market by the appointment of two senior Corporate Finance professionals. LINWAR and its new Corporate Finance team have led or managed over A$2 billion in capital raisings for a range of ASX-listed and unlisted companies.