June 2005

In accordance with the CSFB/Tremont Investable Hedge Fund Index Rules (the "Index Rules"), CSFB/Tremont Index LLC is publishing the following notice.

Bear Stearns Global Convertible Offshore Fund Ltd., which begins liquidation at the end of June, 2005, has resulted in a Special Rebalancing Situation.  Implementation will follow the procedures outlined in the Index Rules.  This fund will remain in the Convertible Arbitrage sector of the CSFB/Tremont Investable Hedge Fund Index until August 1, 2005, when the liquidation is expected to be complete.

The Investable Index is constructed using a strict, rules-based methodology.  For further explanation, please see "Special Rebalancing Situations: Member Funds that Liquidate" in the Index Rules on www.hedgeindex.com.