Arden Asset Management Adds Chief Technology Officer and Further Enhances Research Department.

NEW YORK -- Arden Asset Management LLC, a leading fund of hedge funds manager with over $11 billion in assets under management, today announced that Barry Friedson, former Director of Deutsche Bank's Absolute Return Strategies Technology Group, will join the firm as Chief Technology Officer on June 1. Mr. Friedson will work with Arden's senior management team to further enhance the firm's technical infrastructure and will report to Vikas Kapoor, Executive Director of Risk Management and Technology.

Arden also announced that Louis Rodriguez, former Senior Operations Analyst at EIM Management (USA) Inc., has joined Arden's 18-member research team as a Director focusing on infrastructure due diligence. Mr. Rodriguez reports to Henry Davis, Managing Director in the Research Group, and Natalie Birrell, Chief Operating Officer. Additionally, Kira Bacak has joined the firm as a Portfolio Associate in the Financial Reporting & Operations Group.

"Barry's substantial industry experience and technical expertise will enable Arden to further enhance our technology infrastructure as we expand our investment capabilities," said Averell H. Mortimer, President of Arden Asset Management. "Louis' deep operational background will further bolster our infrastructure due diligence process and strengthen our overall research capabilities. We also welcome Kira to the firm."

At Deutsche Bank's Absolute Return Strategies Group, Mr. Friedson was responsible for the development and implementation of several significant technology initiatives. Prior to joining Deutsche Bank in 2000, Mr. Friedson was a Senior Programmer at Alliance Capital Management L.P. Mr. Friedson holds an MBA in Finance from the New York University Leonard N. Stern School of Business and a B.S. in Engineering from the University of Pennsylvania.

Mr. Rodriguez has over 10 years of investment experience. At EIM, Mr. Rodriguez was responsible for the operational monitoring and due diligence of U.S. hedge funds. Previously, Mr. Rodriguez was Vice President - Operational Due Diligence of Deutsche Bank's Absolute Return Strategies Group, where he was a member of the operations and middle office management team and created and implemented the operational due diligence program. Mr. Rodriguez holds a B.S. in Applied Economics & Business Management from Cornell University.

Most recently, Ms. Bacak served as an Accountant at SEI Investments. Ms. Bacak holds a B.S. in Business Administration from Villanova University.

An employee-owned firm founded by Averell H. Mortimer in 1993, Arden Asset Management is a leading global fund of funds investment management company with offices in New York and London. Arden is registered with the SEC. Arden Asset Management (U.K), Ltd. is authorized by the FSA. Arden's institutional and high net worth investors include taxable and non-taxable clients from the United States, Canada, Europe, Asia, Japan, South America and Australia.