Credit Suisse Asset Management Significantly Expands Its Alternative Investment Capability.

NEW YORK--(BUSINESS WIRE)--Sept. 17, 1998--Credit Suisse Asset Management (CSAM) today announced the integration of Garantia Inc.'s Fund of Funds team into its U.S. operation, BEA Associates. This marks a significant expansion of CSAM's presence in the global market for alternative investment products.

"We are very pleased to welcome Alain De Coster and the Garantia Fund of Funds team," said William W. Priest, Jr., BEA's Chief Executive Officer. "With our institutional and high net worth clients increasingly interested in this asset class, it is clear that the addition of the team's skills will allow us to offer an impressive array of alternative products tailored to clients' investment objectives. The Fund of Funds Team has also achieved a record of consistently superior performance relative to its benchmarks and peers over the last four years."

The Fund of Funds team presently manages four products investing in alternative vehicles. These vehicles are primarily hedge funds, whose investment styles range across the risk/return spectrum. They include Global Arbitrage and Fixed Income; First World Equity Hedge Funds; Macro Hedge and Emerging Markets; and Multi-Technology Hedge. Total assets under management exceed $500 million.

Alain De Coster, lead portfolio manager said that, "We now have the ability to access CSAM's global investment resources. This should enhance the development of our products and position our business for stronger growth going forward. We are delighted to become a part of such a high-quality, dynamic organization."

Credit Suisse Asset Management is the institutional asset management and mutual fund arm of the Credit Suisse Group. CSAM employs more than 1,400 people worldwide and has global assets under management of $138.2 billion.