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July 15, 2002

July 15, 2002

CSFB/TREMONT HEDGE FUND INDEX IS DOWN  -0.84% IN JUNE
Managed Futures Index is Top Performer -- Up 8.63%

 NEW YORK, NY, July 15, 2002  --- The CSFB/Tremont Hedge Fund Index is down -0.84% for June 2002, according to Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC.

"Although there was a difficult trading environment during June, hedge funds lost only a fraction of what was lost in the long-only markets," said Mr. Schupp.  "Hedge funds continue to provide important downside protection to diversified portfolios, and to preserve capital for accredited investors, while widely followed indices worldwide continue to erode investment value," he added.

"Managed futures funds enjoyed strong performance for the second month in a row, ending the month up 8.63%," said Robert I. Schulman, Co-Chief Executive Officer of Tremont Advisers. 

Performance for the CSFB/Tremont Hedge Fund Index and the nine style-based sector indices is calculated monthly.  June, May and year-to-date 2002 returns for all categories are listed below and at www.hedgeindex.com.

Category June 2002 May 2002 Y 2002
CSFB/Tremont/Index -0.84% 0.67% 1.34%
Convertible Arbitrage -0.33% 0.23% -1.00%
Dedicated Short Bias 7.63% 1.19% 9.26%
Emerging Markets -3.75% -0.73% 5.13%
Equity Market Neutral 0.52% 1.29% 3.32%
Event Driven -2.93% 0.12% -0.10%
Fixed Income Arbitrage 0.65% 1.44% 6.13%
Global Macro 1.42% 0.78% 7.04%
Long/Short Equity -1.26% 0.80% -0.55%
Managed Futures 8.63% 3.51% 5.65%
Dow Jones Ind. Index -6.87% -0.21% -7.77%
MSCI $ World Index -6.20% -0.04% -9.54%
MSCI EAFE US $ Index -4.14% 0.93% -2.77%
NASDAQ Composite -9.44% -4.29% -24.98%
S&P 500 -7.25% -0.91% -13.78%

The CSFB/Tremont Hedge Fund Index June NAV is 244.39, returning 144.39% for the 102-month period since inception (January 1, 1994 through June 30, 2002).

For additional current and historical data including more comparisons with other widely followed global indices, visit the CSFB/Tremont Hedge Fund Index web site at www.hedgeindex.com.

The CSFB/Tremont Hedge Fund Index is comprised of 384 funds as of May 1, 2002, down from 390 funds as of April 1, 2002. 

 The Index is constructed using the TASS database of more than 2,600 hedge funds.  It includes both open and closed funds located in the U.S. and offshore, but does not include funds of funds.  In order to qualify for inclusion in the index selection universe, a fund must have US $10 million under management, a 12-month track record, and an audited financial statement.  Index funds are selected using a formula based on assets under management that ensures the Index always represents at least 85% of total assets in each of nine strategy-based sectors in the selection universe.  Once added, funds are not excluded until they liquidate or fail to meet the financial reporting requirements, in order to minimize survivorship bias.  The Index is calculated on a monthly basis and adjusted on a going-forward basis for capitalization and return.
The CSFB/Tremont Hedge Fund Index, the only asset-weighted hedge fund benchmark, was designed to establish a standard for tracking and comparing hedge fund performance against other major asset classes, like the S&P 500, on a global basis.  Its web site provides interactive tools that allow users to manipulate the information and customize their research.
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, Simon Ford, James Kreitman, Art Mbanefo, Oliver Schupp and James Vos, and from Tremont Advisers, Robert I. Schulman.  Credit Suisse First Boston Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.
Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB''''s businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in over 89 locations across more than 37 countries on 6 continents. The Firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company.
Tremont Advisers, Inc is one of the leading global alternative investment management firms, whose business lines include research and investment management services, sale and distribution of its proprietary investment products, and database sales and information services. Tremont advises on approximately $9 billion in alternative investment assets, including more than $1billion in its proprietary funds.  Through its information and market intelligence unit, TASS Research, the firm provides data on the performance of more than 2,600 alternative investment managers and funds.  Tremont, headquartered in Rye, New York with offices in Toronto, Bermuda and London, is a wholly owned subsidiary of Oppenheimer Acquisition Corp, the parent company of Oppenheimer Funds, Inc., one of the nation''''s most respected asset managers.

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.


For further information: Oliver Schupp  (212) 325-4278
                                  Robert I. Schulman (914) 925-1140

PR Contact:                Meg Bode  (516) 869-6610


© 1999-2014 Credit Suisse Hedge Index LLC. All rights reserved.Credit Suisse Hedge Fund Index was formerly known as Dow Jones Credit Suisse Hedge Fund Index from June 22, 2010 to September 15, 2013. Credit Suisse AllHedge Index was formerly known as Dow Jones Credit Suisse AllHedge Index from June 22, 2010 to September 15, 2013. Credit Suisse Blue Chip Hedge Fund Index was formerly known as Dow Jones Credit Suisse Blue Chip Hedge Fund Index from June 22, 2010 to September 15, 2013.