CSFB/Tremont Hedge Fund Index is Unveiled.

NEW YORK--(BUSINESS WIRE)--Nov. 16, 1999--

First Asset-Weighted Benchmark Sets New Industry Standard To

Track Hedge Fund Performance via the Internet

At a press briefing today, Credit Suisse First Boston Tremont Index LLC gave journalists an early look at its new CSFB/Tremont Hedge Fund Index - the first asset-weighted hedge fund index -- designed to provide a new standard for tracking and comparing hedge fund performance against other major asset classes on a global basis.

The company's web site, www.hedgeindex.com, its main distribution channel, will be available to the public tomorrow, November 17, at 4 pm EST.

"As investments in hedge fund strategies continue to grow, we saw the need for a comprehensive, asset-weighted index -- delivered over the Internet - with tools that allow investors to analyze hedge fund performance as deeply and easily as is customary with the global equity markets," said Robert S. Sloan and Robert I. Schulman. Mr. Sloan, CEO of Credit Suisse First Boston Index Co. and Nicola Meaden, Director of Tremont Advisers, announced the launch at a press briefing in London, while Roland Lorenzo, President and COO of Credit Suisse First Boston Index Co. and Mr. Schulman, President and COO of Tremont Advisers, presented the Index to reporters in New York. Credit Suisse First Boston Index LLC. is a joint venture company created in August 1999 by Credit Suisse First Boston Index Co. and Tremont Advisers, Inc.

"An asset-weighted index, as opposed to equal-weighted, provides a truer picture of how an investor's dollar performs," explained Mr. Lorenzo. Like the S&P 500, also an asset-weighted benchmark, the CSFB/Tremont Hedge Fund Index is intended to be a meaningful tool for investors, investment advisors, managers and the media as they compare and analyze investment returns.

"The CSFB/Tremont Hedge Fund Index provides high quality current and historical information on hedge funds to anyone with access to the Internet," said Mr. Schulman. He said the web site is easy-to-use and provides a variety of useful functions that allow users to manipulate the information to customize their research.

Index Results

The CSFB/Tremont Hedge Fund Index returned 93.38% for the 70-month period since inception, beginning January 1, 1994 through October 31, 1999.

For the month of October 1999, the Index posted an estimated return of 2.37%.

Year-to-date, the Index is 8.35%.

For the 1 year, November 1998 through October 1999, the total return is 13.15%.

For the 3 years, November 1996 through October 1999, the total return is 43.25% and the average annual return is 12.73%.

For the 5 years, November 1994 through October 1999, the total return is 102.60% with a standard deviation, or volatility, of 9.40, and the average annual return is 15.17%.

Additional current and historical data is posted on www.hedgeindex.com.

Index Construction

The CSFB/Tremont Hedge Fund Index includes participation by many of the world's largest hedge fund managers, who have agreed to provide performance data that meets strict reporting standards. In order to qualify for inclusion, a fund must have US $10 million under management and an audited financial statement. A complete list of participants is posted on www.hedgeindex.com.

Currently, the Index is comprised of 284 funds. It includes both US and offshore funds, but does not include funds of funds. Funds are not excluded until they liquidate or fail to meet the financial reporting requirements, in order to minimize survivorship bias.

The Index is calculated on a monthly basis and adjusted for capitalization and return. Funds will be reselected quarterly.

The Index is constructed using the TASS+ database of more than 2,600 hedge funds. The methodology is audited by a Big Six accounting firm.

Nine Sub-Indices

In addition to the master Index, nine sub-indices were created in order to provide standardized data to track nine major categories of investment styles and strategies that are commonly used by hedge fund managers world-wide. The style-based sub-indices are: Long/Short Equity; Event Driven; Equity Market Neutral; Global Macro; Fixed Income Arbitrage; Dedicated Short Bias; Managed Futures; Emerging Markets; and Convertible Arbitrage. Further details and data are available on www.hedgeindex.com.

All Indices will be updated monthly and posted by the 16th of the month.

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 Advisers, Inc. The company's management team includes from CSFB, Paul Calello, Managing Director, Robert S. Sloan, Managing Director, and Roland Lorenzo, Director, and from Tremont Advisers, Robert I. Schulman, President and COO, Nicola Meaden, Director, and Hunt Taylor, Senior Vice President. Credit Suisse First Boston Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.

Credit Suisse First Boston is a leading global investment banking firm, providing comprehensive financial advisory, capital raising, sales and trading, and financial products for users and suppliers of capital around the world. It operates in over 60 offices across more than 30 countries and has over 14,000 employees. As of December 31, 1998, CSFB has $6.7 billion in revenues, $7.1 billion in equity and $291 billion in assets. The Firm is a wholly owned subsidiary of the Zurich-based Credit Suisse Group.

Tremont Advisers, Inc. (TMAVB) is a diversified holding company which, through its subsidiaries, is engaged in three core businesses: consulting, information & research, and investment products for the global alternative investment industry. Tremont holds leadership positions in each of its specialty areas and advises on approximately $6.5 billion in alternative investment assets. Through its London-based information and market intelligence unit, TASS Investment Research Ltd, the firm provides data on the performance of more than 2,600 alternative investment managers and funds. Tremont manages in excess of $500 million in proprietary funds and has more than $100 million in insurance policies related to alternative investments.

Tremont's wholly owned subsidiaries, Tremont Partners, Inc., and Tremont Securities, Inc., are registered as investment advisers under the Investment Advisers Act of 1940 and as a registered broker/dealer under the Securities Exchange Act of 1934, respectively. Tremont is headquartered in Rye, New York and has offices in Toronto, Bermuda and London.

Certain statements in this Press Release constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. The Companies assume no obligation to update these forward looking statements to reflect actual results, changes in assumption or changes in other factors affecting such forward looking statements.