CHICAGO, August 22, 2006 – Horizon Cash Management LLC, a leading cash manager for alternative investment funds, today announced that with the addition of new clients, there has been an increase in assets of $600 million so far in 2006, to surpass the $3.5 billion mark. The firm also announced that it anticipates further growth and is planning further hires in portfolio management, operations and accounting.

The current environment to put cash to work is one of the best we have seen since our inception, said Diane Mix, President and Principal of the firm. With our expanding global brand and presence and an ever increasing awareness among hedge funds that cash should be managed actively, we are bullish for Horizons continued growth.

Ms. Mix pointed out that there is still a sizable universe of managers to be tapped and educated about Horizons services, citing a recent survey conducted by Horizon showing that 45% of hedge funds still use passive means of cash management.

Horizon will announce its new employees in the next few weeks.

Established in 1991, Chicago-based Horizon Cash Management LLC (www.horizoncash.com) provides customized portfolio and treasury services to hedge funds, funds-of-funds, futures funds and family offices worldwide. With more than $3.5 billion in assets under management, Horizon seeks to maximize cash balance returns while providing daily risk management for alternative fund investors and managers. Horizon is a registered investment adviser with the US Securities and Exchange Commission.

Sophie Sophaon l Walek & Associates l Office: 212.590.0522 l Cell: 202.270.4870 l ssophaon@walek.com