Fulcrum Limited Announces Strategic Global Expansion and Growth

Broadens Executive Team, Opens New York Office, Expands Canada Infrastructure

Bermuda/April 12, 2006/: Fulcrum Limited, a leading global fund administrator for the alternative asset management industry, is pleased to announce a strategic expansion that includes the broadening of the executive team, the opening of a New York office, and expansion of the Canadian office.

“This period of strategic expansion underscores Fulcrum’s global growth and acceptance as a leading technology-driven hedge fund administrator,” said Glenn Henderson, CEO of Fulcrum Limited. “We have recruited a highly experienced management team and added infrastructure that will strengthen the premium and dedicated services we provide our alternative asset clients.”

Fulcrum Limited, which was founded in Bermuda in 1995, recently opened its first U.S. office in Manhattan, New York. Gary J. Yannazzo has been appointed Chief Operating Officer of Fulcrum U.S. where he will lead Fulcrum’s expansion of their global client delivery services. Mr. Yannazzo previously spent six years as the CFO of Greenwich, CT-based Kenmar, a multi-billion fund of funds manager.

Also heading up the management team of the New York office, is Carsten Jerrild who spent four years as Director of Sales at Citco Fund Services, (USA) Inc. As Managing Director of Fulcrum U.S., Mr. Jerrild will be responsible for global marketing and sales.

Megan Corcoran joins the Fulcrum U.S. office as Director of Business Development. Ms. Corcoran is responsible for new business activities primarily in the important New York market as well as working with Mr. Jerrild on U.S. wide sales activities.

“In addition to adding a New York office, Fulcrum Limited has significantly expanded its facilities in Canada,” said Mr. Henderson, adding that office space for up to 100 staff has been acquired. “We now have the management team, technology, staffing, and premises to further our global growth plans while continuing to deliver on our primary responsibility of providing quality information on a timely basis to all Fulcrum clients,” he said.

John Ruetz and Chris Gehan have been promoted within the company to spearhead Fulcrum Fund Administration Limited in Kitchener, Ontario.

Mr. Ruetz led the investment accounting group for Sun Life of Canada, which has marketable securities, real estate, and mortgage assets totaling $42 billion and $22 billion in group pension funds. As Managing Director of Fulcrum Fund Administration, Mr. Ruetz will be in charge of all aspects of the Canadian operations including fund accounting, administration, client servicing and reporting.

Previously Vice-President of Operations at The Bank of N.T. Butterfield and Son Ltd., Hamilton, Bermuda, Mr. Gehan has been promoted to Director of Risk and Organizational Development. He will manage both the professional development of the operations staff and the development of the organization from a perspective of control and risk management.

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