Vienna, London, Zug – September 12, 2005 – Over the past 18 months HARDT GROUP has focused on the identification and seeding of talented early stage Hedge Fund managers.

“Based on our deep experience and the broad industry relationships of our investment team we have identified a number of highly talented early stage Hedge Fund managers who are now in our portfolios.Until now our clients were only able to have access to them through our Multi Strategy Fund of Hedge Funds. By setting up a separate INCUBATOR PARTICIPATION FUND around this core group of managers,we are now positioned to offer investors a differentiated institutional product with the added possibility of significant returns,” says Dr. Alexander SCHWEICKHARDT, CEO & Principal of HARDTGROUP.

The INCUBATOR PARTICIPATION FUND will provide investors with both sector and regional diversification as well as an enhanced return opportunity. By investing at a very early stage in Hedge Funds setup by experienced Fund managers, the investor through their investment in the INCUBATOR PARTICIPATION FUND can gain in four ways: a revenue share of the performance and management fees based on assetgrowth, a discount on direct investment fees, participation in the potential of excess returns of early stage managers, and future capacity at reduced fees.

“The Fund’s portfolio encompasses a variety of investment strategies and has broad geographic diversification. We believe our ability to offer this kind of Hedge Fund product is unmatched, given thedepth and breadth of our investment approach, backed up by our highly experienced investment team,” comments Jeff LANDLE, CIO & Principal of HARDT GROUP.

The INCUBATOR PARTICIPATION FUND return objective will be 10% p.a. over 3-month LIBOR over a three to five year period with 6-10% annualized volatility. The minimum investment is set at USD 20 Mio.with a minimum 3 year lock up period. Advisory fees will be 1% p.a. and a 10% performance fee with a high watermark clause.

DDr. Alexander SCHWEICKHARDT notes that HARDT GROUP intends to raise USD 200–500 million, matched by a commitment from Investment Vehicles advised by HARDT GROUP of 50% of the assets up to USD 200million.

HARDT GROUP is an institutionally focused, international Alternative Investment group. The group includes a team of 23 specialists led by the principals DDr. Alexander SCHWEICKHARDT (CEO) and JeffLANDLE (CIO). With offices in Vienna, New York, London and Zug HARDT GROUP currently advises in excess of USD 900 million in Fund of Hedge Funds and Private Equity assets.

HARDT GROUP is the brand name referring to “H.A.R.D.T.” GROUP Investments AG, its branch offices in London and Zug, and its wholly owned subsidiary, HARDT GROUP Advisors, Inc., which acts assub-advisor to “H.A.R.D.T.” GROUP Investments AG, based in New York.

This material is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any interest in any fund.