Credit Suisse Alternative Index Replication (“AIR”) Releases October Returns

Dr. Drachman said, “October was a very challenging month for hedge funds across all strategies, but the Credit Suisse Inverse Long/Short Equity Replication Index finished the month up 6.69% net.”

Dr. Drachman went on to say “By providing inverse hedge fund-like returns, the Index is able to offer investors insight to the performance of short exposure to the common factors driving the Long/Short Equity sector of the hedge fund universe. Conversely, the Credit Suisse Long/Short Equity Replication Index finished the month down 7.36% net.” The AIR LOSHO Index attempts to track the Long/Short Equity sector of the benchmark Credit Suisse/Tremont Hedge Fund Index.

Performance for the AIR LOSHO Indices are calculated daily and shown net of a 1.15% calculation fee. October, September and 2008 year-to-date returns are listed below.

The Credit Suisse Long/Short Equity Replication Index (“AIR LOSHO Index”) reflects the return of a dynamic basket of liquid, investable market factors selected and weighted in accordance with an algorithm that aims to approximate the aggregate returns of the universe of long/short equity hedge fund managers. The Credit Suisse Inverse Long/Short Equity Replication Index (“Inverse AIR LOSHO Index”) reflects the return of a dynamic basket of liquid, investable market factors selected and weighted in accordance with an algorithm that aims to approximate the aggregate returns of short exposure to the universe of long/short equity hedge fund managers.