CSFB/Tremont Hedge Fund Index Is Up 1.48% in November

NEW YORK, NY, Dec. 15, 2005 — The CSFB/Tremont Hedge Fund Index is up 1.48% for November 2005, according to Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC andsenior member of the CSFB Hedge Fund Investments Group.

“Increased appetite for risk and lower inflation fears let global equity indices raise significantly in November. Long/Short Equity and Emerging Markets Managers especially profited from the trend, finishing the month up 2.22% and 2.43% in the CSFB/Tremont Hedge Fund Index,” said Mr. Schupp. “At the same time Managed Futures Managers gained from the strength of the US Dollar versus other currencies and the continued decline in oil prices.”

“Global M&A activities were strong again in November as $189 billion in deals were announced during the month providing Event Driven Managers with a large set of opportunities” said Robert I. Schulman, Chief Executive Officer of Tremont Capital Management, Inc. “Selling pressure on convertibles and a contraction in equity volatility led the Convertible Arbitrage Sector down 0.43% in November.”

Performance for the CSFB/Tremont Hedge Fund Index and its ten sub-strategies is calculated monthly. November, October and year-to-date 2005 returns for all categories are listed below and at www.hedgeindex.com.

*Total Return Indices

The CSFB/Tremont Hedge Fund Index value is 333.11 returning 233.11% for the 143-month period since inception (January 1, 1994 through November 30, 2005).

For additional current and historical data including more comparisons with other widely followed global indices, visit the CSFB/Tremont Hedge Fund Index web site at www.hedgeindex.com.

The CSFB/Tremont Hedge Fund Index is comprised of 416 funds as of November 30, 2005. The following funds were dropped from the constituent list of the CSFB/Tremont Hedge Fund Index: BTOP Multi-Strategy, Advisory U.S. Equity Market Neutral and AlphaGen Cepheus.

There were three strategy reclassifications in November: Systeia Event Driven Fund was moved to Event Driven Multi-Strategy, Balanced International Investment Strategies was moved to Multi-Strategy and Marathon Master Fund was moved to Emerging Markets.

The Index is constructed using the CSFB/Tremont database of more than 4,500 hedge funds. It includes both open and closed funds located in the U.S. and offshore, but does not include funds of funds. In order to qualify for inclusion in the index selection universe, a fund must have a minimum of US $50 million under management, a 12-month track record, and audited financial statements. Index funds are selected using a formula based on assets under management. That ensures the Index represents at least 85% of total assets in each of ten strategy-based sectors in the selection universe. Once added, funds are not excluded until they liquidate or fail to meet the reporting requirements, in order to minimize survivorship bias. The Index is calculated as a total return index on a monthly basis, adjusted for asset in- and outflow, including a reselection according to the procedure outlined above on a quarterly basis.

Return for the CSFB/Tremont Investable Hedge Fund Index

The CSFB/Tremont Investable Hedge Fund Index is up an estimated 0.77% net for the month of November 2005. The confirmed performance for October is down -0.76% net.

Performance for the CSFB/Tremont Investable Hedge Fund Index is calculated monthly. Returns for the months of November, October and year-to-date 2005 are listed below and at www.hedgeindex.com. The return shown is net of a 0.07% calculation fee.

The CSFB/Tremont Investable Hedge Fund Index was launched with 60 funds and was set at 100 on August 1, 2003.

The funds currently included in the index are available on the web site at www.hedgeindex.com.

The CSFB/Tremont Investable Hedge Fund Index is designed to give investors broad exposure to hedge funds as an asset class. It fulfills investor demand for index-linked products created to reduce dependency on fund manager selection and fund concentration risk.

The CSFB/Tremont Investable Hedge Fund Index is based on the broad CSFB/Tremont Hedge Fund Index, which is the largest hedge fund index with $368 billion in assets managed by 416 funds as of November 30, 2005.

The funds in the CSFB/Tremont Investable Index or the CSFB/Tremont Sector Invest Indices are selected from the funds included in the CSFB/Tremont Hedge Fund Index. The CSFB/Tremont Investable Hedge Fund Index and the CSFB/Tremont Sector Invest Index comprise the largest funds that are open to investment and meet certain liquidity conditions in each of the 10 style-based sectors. The fund selection rules can be found on www.hedgeindex.com and include the following criteria:

• Funds are selected from the CSFB/Tremont Hedge Fund Index by an asset-based formula

• The funds generally represent the largest eligible “open” funds in each of the ten sectors

• The funds are determined by application of the construction rules

• Member funds must provide timely performance reporting, audited financials and offering memorandum review for inclusion

Additional features of the CSFB/Tremont Index series include:

• Transparency via www.hedgeindex.com and pages on Bloomberg and Reuters, Wall Street Journal Asia and Europe.

• A broad suite of index-linked investment products through CSFB

Credit Suisse First Boston Tremont Index LLC is the joint venture company of Credit Suisse First Boston Index Co., Inc., a subsidiary of Credit Suisse First Boston Inc., and Tremont Capital Management, Inc. Credit Suisse First Boston Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.

Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB’s businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 33 countries across five continents. The Firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company.

Tremont Capital Management, Inc. is a leading hedge fund asset management firm which provides and manages investment products and customized portfolios, and offers related services, on a worldwide basis. Currently managing approximately $10 billion in assets, Tremont maintains offices in Rye, New York; London; Toronto and Bermuda.