CITISOFT LAUNCHES NEW PRACTICE TO MEET GROWING DEMAND FROM HEDGE FUNDS

-New practice will also provide services to asset managers using alternative investments

3 February, 2006 - London - Citisoft, the specialist investment management consulting firm, today announced the launch of its Hedge Fund and Derivatives Practice. The practice has been launched to cater for the growing demand for consulting services from hedge funds, fund of hedge funds and asset managers that utilise derivatives and other alternative investments.

Citisoft's new offering will help the buy-side respond to market growth, hedge fund formalisation, the increasing use of derivatives, and demands for greater transparency. Citisoft has provided consulting services to the alternative investment industry since 2003, and currently consults firms on initiatives such as project reviews, systems selection, IT architecture, integration and implementation and structuring options for alternative investment businesses.

The practice will be headed by Sunil Chadda, who brings twenty years'
experience in investment management. Prior to joining Citisoft in 2001, Sunil held positions at Schroder Investment Management Ltd, as both an IT Manager on its international fixed income desk, and a Business Analyst for custody operations.

Sunil Chadda comments, "I am delighted to have been appointed to head up this practice. Hedge funds represent a dynamic force at the forefront of the market, and their innovation and drive are increasingly becoming a part of the traditional asset management world. With this new practice we hope to bring our experience not only to hedge funds, who face growing competition and calls for compliance, but also to traditional asset managers, who need support in developing their alternative investment businesses."

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