Cantor Fitzgerald Launches GoldRock Asset Management.

-- Mark Ostroff Named to Lead New Investment Management Group --

NEW YORK -- Cantor Fitzgerald has announced the creation of GoldRock Asset Management L.P., a new alternative investment management company. Led by Mark Ostroff, President, GoldRock was formed from the integration of Zenith Asset Management LLC by Cantor Fitzgerald. GoldRock will commence operations early in July and will initially manage several global hedge fund-of-funds portfolios. Mr. Ostroff reports to Irvin Goldman, CEO and President of Cantor Fitzgerald Asset Management.

In announcing the formation of GoldRock, Mr. Goldman said, "We're excited that a professional with Mark's background, knowledge and commitment to excellence has joined Cantor to lead this effort. I am confident that Mark and the team he is building, combined with Cantor Fitzgerald's culture, analytic expertise, and risk management tools, represent a tremendous combination of assets." He added, "We expect the initial GoldRock fund-of-funds portfolios to be the first of many product offerings."

Mr. Ostroff said, "This is a compelling opportunity to join an entrepreneurial, dynamic and globally oriented organization, one that boasts a legacy of excellence. Our goal is to carry on that tradition by building an international platform that identifies and invests in the best opportunities within the alternative investment universe. I believe that Cantor's reputation and reach will allow GoldRock to assemble a world-class portfolio of hedge fund managers."

Mr. Ostroff's career in money management and investment banking has included senior positions at Goldman Sachs, Morgan Stanley, and Weiss, Peck & Greer. He also co-founded Graystone Partners, the hedge fund advisory firm, WealthPlace, the alternative asset management firm, and Zenith Asset Management, the Los Angeles based fund-of-funds firm. Mr. Ostroff received a B.S. in economics and mathematics from the Wharton School of the University of Pennsylvania and an MBA from the University of Chicago Graduate School of Business. He also holds a CPA certification.

About Cantor Fitzgerald, L.P.

Cantor Fitzgerald, L.P. is a leading global financial services firm. The Cantor Fitzgerald franchise includes institutional equity and fixed income sales and trading, investment banking, private equity, and asset management, as well as Cantor LifeMarkets, Cantor Gaming, Cantor Index, CantorCO2e, Cantor Entertainment, and other businesses and ventures. For nearly 60 years, Cantor Fitzgerald, a proven and resilient leader, has been committed to delivering a unique brand of unparalleled product expertise, innovative technology and customer service to its clients around the world. For more information, please visit www.cantor.com.