Bangalore, June 21, 2011 Raffles Equity announces the appointment of three new research and credit analysts to cover the ASEAN Corporate Bond sector as an adjunct to the Equities Department. The new analyst team members will be based in Bangalore, India and will join Raffles in the summer. These new team members join Raffles highly ranked Equity Research Team of Dr. James W. Arnold, CFA, and Director, who leads our corporate equities and stock coverage. Dr. Arnold, Head of Equity Research, said: -Raffles Equity Research, Inc. has an outstanding reputation in providing thoughtful analysis on this ASEAN Stock Companies sector. The quality of our research has been recognized by our consistent high rankings in various industry surveys. We are therefore delighted to be welcoming these new members to our team – all of whom enjoy a great reputation within the corporate credit and corporate bond industry. Their expertise will extend our coverage of ASEAN stock companies beyond just the equity side to now recommending excellent portfolio positions on the debt side of the equation. We see an immediate need to extend our knowledge and coverage of the equity side to credit and debt evaluations for our customers in assisting them in managing Balanced Portfolios of both corporate stocks and corporate bonds. These additions to our team provide further depth in research and we look forward to sharing our combined expertise for the benefit of our institutional clients.- Carla de Marcos will be joining Raffles Equity as a Section Director. She will be working alongside Jonathan Portagio, Assistant Section Director and will share coverage of the ASEAN banks and large conglomerates sector. Both Carla and Jonathan have a combined 23 years experience in the Banking and Industrial sectors, having previously covered Asian, South American and Eastern European Corporate Debt for several prominent Wall Street and European investment banking firms. Philippe Tonier will join Raffles as a Vice President from J. Arthur Donnelly Company. He will join Carla and Jonathan and will be focusing on the highest credit worthy corporates listed on the ASEAN Bourses. Philippe has ten years experience in Credit Financials and Corporate Bond Ratings both on the buy and sell-side. -These coverage additions in Corporate Bonds signals Raffles strong view of the emerging importance of ASEAN Corporate Bonds as investment mediums in an expanding universe of portfolio selection criteria for both income as well as balance funds. It highlights our immediate desire to leverage the information we have gained analyzing the financial prospects of ASEAN Corporations -, emphasized Dr. Arnold.