Byron Wien to Join Pequot as Chief Investment Strategist.

WESTPORT, Conn. -- Pequot Capital Management, Inc., today announced that Byron R. Wien, Managing Director and Senior Investment Strategist at Morgan Stanley, will join the firm as Chief Investment Strategist on December 1, 2005. Mr. Wien will work closely with Arthur J. Samberg, Chairman and Chief Executive Officer of Pequot, and the firm's investment team to develop global macro-investment strategies. Mr. Wien will work out of Pequot's New York office.

Mr. Wien is a seasoned strategist who brings over 40 years of experience in the global financial markets. Prior to joining Morgan Stanley in 1985, Mr. Wien was a portfolio manager for 20 years, primarily at Weiss, Peck and Greer, where Mr. Samberg was also a Partner.

Mr. Samberg, said, "We are delighted to have Byron join and are confident that Pequot's talented investment professionals will greatly benefit from his significant experience and unique insights into the global financial markets. We look forward to leveraging Byron's unrivalled expertise in macro-economic strategy and believe he will greatly enhance Pequot's capabilities as we work to generate superior returns for our investors."

Mr. Wien serves as a Director of Soros Fund Management and is a member of the Investment Committees of Lincoln Center and the John D. and Catherine T. MacArthur Foundation. He is also a Trustee of the New-York Historical Society and Pritzker Foundation. Mr. Wien is the Vice Chairman of the Manhattan Institute as well as a Board member and Head of the Strategic Planning Committee of Phoenix House. Mr. Wien received his B.A. and M.B.A. from Harvard University, where he serves on the Executive Committee of the Overseers' Committee on University Resources. He is a past President and Chairman of the Harvard Business School Club of Greater New York.