Mediagrif Interactive Technologies Inc. (TSX: MDF), a world-leading developer of e-business networks and provider of complete e-business solutions, today announced it has created a joint venture with the Dubai Metals and Commodities Centre (DMCC) to support the expansion in the Middle East, India, Asia and Africa of Polygon, its diamond and jewellery network. The creation of this joint venture represents total investments of US$12 million. Launched in 2002, the Dubai Metals and Commodities Centre (DMCC) is a strategic initiative of the Dubai government and free trade zone created to establish a commodity marketplace in Dubai. DMCC provides industry-specific market infrastructure and a full range of facilities for the gold & precious metals, diamonds & colored stones and commodities industries. DMCC currently has more than 625 members from across its entire target industries, including gold, precious metals, diamond and colored stones. Through this joint-venture to be called Polygon-DMCC, the parties will accelerate the development of electronic trading in the diamond and jewellery industry under the Polygon brand. The joint venture will leverage Polygon's technology and know-how as well as DMCC's infrastructure and client base in the targeted regions. According to the Chairman of the Board and Chief Executive Officer of Mediagrif Denis Gadbois, "This alliance with a renowned international institution of DMCC'S caliber, coupled with Dubai's location at the crossroads of Europe and Asia is set to increase rapidly Polygon's development. One of our primary objectives for Polygon has always been to leverage the company's US business operations throughout the world. We are excited to establish a Dubai-based joint venture that will enable us to achieve this goal," concluded Denis Gadbois. "DMCC is affiliating with the very top players in their fields," noted Dr. David Rutledge, Chief Executive Officer of DMCC and Chairman of the Dubai Diamond Exchange, a WFDB affiliate. "In the case of online trading in the diamond industry, that means Polygon. Clearly, what we are doing in Dubai, with the creation of the market-specific infrastructure, the free trade zone, and the Diamond Exchange needs to include an online component for global trading in the 21st century. Rather than build it ourselves, it made sense to turn to industry-leader Polygon and leverage the strength of the two organizations-not just in Dubai but across Asia and Africa. Polygon is renowned as the most active B2B network for this industry, and their ownership by Mediagrif gives it a worldwide technology and customer-support infrastructure that is ideal for international trade." About DMCC The Dubai Metals & Commodities Centre (DMCC), rated 'A' by Standard & Poors was created in 2002 as part of a strategic goal by the Dubai Government to establish a commodity marketplace in Dubai. It provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment. To learn more about DMCC, please visit www.dmcc.ae. To view DMCC's corporate video: www.dmcc.ae/about_video2.htm About Mediagrif Interactive Technologies Inc. Mediagrif Interactive Technologies Inc. (TSX: MDF) is a world-leading operator of e-business networks and provider of complete e-business solutions. Mediagrif's e-business networks allow buyers and sellers within specific industries to source, purchase or sell products and to exchange documents more efficiently using the Internet. Mediagrif operates 13 networks, including industry leaders The Broker Forum (www.brokerforum.com) Power Source On-Line (www.powersourceonline.com), Telecom Finders (www.telecomfinders.com), Global Wine & Spirits (www.globalwinespirits.com) and Polygon (www.polygon.net) in the jewelry industry. The company also owns MERX (www.merx.com), the exclusive provider of e-tendering services to the federal government of Canada, and is a leading provider of government bid aggregation services and e-procurement services in the U.S. Headquartered in Montreal, Mediagrif through its subsidiaries has various offices in Canada and the United States. For more information on Mediagrif please visit us at www.mediagrif.com or call 1 (877) 677-9088. /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on the CNW Photo Network and archived at http://photos.newswire.ca. Additional archived images are also available on the CNW Photo Archive website at http://photos.newswire.ca. Images are free to accredited members of the media/ %SEDAR: 00014324EF
For further information: Kathy Roberge, Director, Communications, Mediagrif Interactive Technologies Inc., (450) 677-8797 ext. 3014, kroberge@mediagrif.com

Source: newswire