We consider world-volume description of M2-branes ending on an M5-brane. Thesystem can be described either as a solitonic solution of the M5-brane fieldequations or in terms of an effective string propagating in 6-dimensions. Weshow that the zeroth order scalar scattering amplitudes behave similarly inboth pictures. The soliton solution appears to have a horizon-like throatregion. Due to the underlying geometric structure of the M5-brane theory, modespropagating near the horizon are subject to a large red-shift. This allows oneto define a decoupling limit and implies a holographic duality between twotheories which do not contain dynamical gravity.
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