Credit Suisse First Boston and Tremont Advisers Join Forces to Create Hedge Fund Indices and Investable Hedge Fund Index Products.

NEW YORK--(BUSINESS WIRE)--Aug. 3, 1999--

Credit Suisse First Boston Index Co., Inc. and Tremont Advisers, Inc. (TMAVB) today announced the formation of Credit Suisse First Boston Tremont Index LLC, a joint venture company created to construct a series of premiere benchmarks for the hedge fund industry and to launch a line of investable index products tied to the CSFB Tremont Hedge Fund Indices. The announcement was made by Robert S. Sloan, Managing Director of Credit Suisse First Boston, and Robert I. Schulman, President and Chief Operating Officer of Tremont Advisers, Inc.

The CSFB Tremont Hedge Fund Index, the capital-weighted master index, will be launched in early-October, according to Mr. Sloan, and will be followed by a series of capital-weighted sub-indices based on different investment strategies and styles. The indices will be constructed using the TASS+ database of more than 2,600 hedge funds. TASS+, the newly integrated fund database created by the March 1999 merger between Tremont and TASS Investment Research Ltd., is the largest, most comprehensive hedge fund universe in the alternative investment industry.

"The quality and quantity of the data and research at Tremont is terrific," said Mr. Sloan. "We believe investors, fund managers and the media world-wide will embrace an accurate, reliable benchmark, and that the new CSFB Tremont indices will provide the standard for measuring the performance of a hedge fund investor's dollar at any given point in time."

"This joint venture represents an exciting blend of unrivaled research with unparalleled global distribution," noted Mr. Schulman. "Both companies are fully committed to the growth of alternative investment products and are joining forces to lead the evolution of alternatives as they gain popularity with mainstream investors."

The investable index products -- the first ever in the hedge fund industry -- will be launched in the year 2000. 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. Ms. Meaden is also Chairman and Chief Executive Officer of TASS Investment Research. 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.