Arden Asset Management Bolsters Senior Investment Staff.

NEW YORK -- Arden Asset Management LLC, a leading fund of hedge funds manager with approximately $11 billion in assets under management, today announced that it has strengthened its research and marketing departments by adding two seasoned professionals. Mark A. Enman, former Global Head of USD Rates trading at Dresdner Kleinwort Wasserstein (DrKW), and David J. Gorman, a former Managing Director at Bear Stearns Asset Management, will join Arden as Executive Directors. Mr. Enman will join the firm on April 10 and Mr. Gorman will join later in 2006.

As part of Arden's 18-member research department, Mr. Enman will work closely with Henry Davis, Managing Director, and the investment committee to further enhance the firm's capabilities by bringing additional fixed income and relative value expertise to the overall investment process. Mr. Gorman will join Arden's Client Development and Service group and will report to Steve Cordy, Managing Director.

Averell H. Mortimer, President of Arden Asset Management, said, "Mark and David are experienced professionals with distinctive skills sets, and we are excited about them joining Arden. Mark's fixed income and relative value expertise will further strengthen our manager selection and due diligence process and assist in our efforts to develop new investment product offerings. David's extensive institutional client management background makes him a significant addition to the firm."

Mr. Enman brings over 20 years of investment experience to Arden. At DrKW, he was responsible for trading of treasury, agency and supra/sovereign debt, as well as IRS and options. From 1989 to 2003, Mr. Enman worked at Merrill Lynch & Co., where he most recently served as Managing Director and Head of Americas Equity eCommerce and Trading Technology. Previously, Mr. Enman was Head of Merrill Lynch's European swaps trading and the global foreign exchange options trading. Mr. Enman holds a B.A. in International Affairs and Economics from Lafayette College.

Most recently, Mr. Gorman served as Managing Director of Consultant Relations at Bear Stearns Asset Management, where he was responsible for initiating and developing relationships with several leading global and regional consulting firms. Previously, Mr. Gorman was a Global Marketing and Client Service Associate at Morgan Stanley Asset Management. Mr. Gorman holds a B.A. in History from Columbia 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.