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December 17, 2001

December 17, 2001

CSFB/TREMONT HEDGE FUND INDEX IS UP 0.5% IN NOVEMBER
Emerging Markets Index is Top Performer -- Up 4.0%

NEW YORK, NY, December 17, 2001  --- The CSFB/Tremont Hedge Fund Index is up 0.5% for November 2001, according to Roland Lorenzo, President and Chief Operating Officer of Credit Suisse First Boston Tremont Index LLC.
"The consistent returns provided by hedge funds this year have saved diversified portfolios from double-digit losses," said Mr. Lorenzo.  "As measured by the CSFB/Tremont Hedge Fund Index - up 3.2% year-to-date - absolute return strategies are indeed a powerful risk management tool."
 "Emerging markets funds topped all other sectors this month, posting 4.0% returns, and demonstrating the importance of diversification among alternative investment sectors," added Robert I. Schulman, President of Tremont Advisers.  "The global macro sector, up 15.5% year-to-date, accentuates the value of diversity."
Performance for the CSFB/Tremont Hedge Fund Index and the nine style-based sector indices are calculated monthly.  November 2001, October 2001 and year-to-date returns for all categories are listed below and at www.hedgeindex.com.

Category Nov 2001 Oct 2001 YTD
CSFB/Tremont/Index 0.5% 0.4% 3.2%
Convertible Arbitrage 0.7% 0.7% 14.2%
Dedicated Short Bias -5.4% -5.0% -0.6%
Emerging Markets 4.0% 2.2% 1.0%
Equity Market Neutral 0.8% 0.7% 9.4%
Event Driven 9.8% 1.4% 10.3%
Fixed Income Arbitrage -0.3% 1.5% 7.8%
Global Macro -0.4% 1.2% 15.5%
Long/Short Equity 1.1% -0.8% -4.8%
Managed Futures -8.6% 3.4% -0.2%
Dow Jones Ind. Index 8.6% 2.6% -8.7%
MSCI EAFE Index 3.6% 2.5% -23.1%
MSCI World Index 5.8% 1.9% -18.3%
S&P 500 7.5% 1.8% -13.7%
Nasdaq 14.2% 12.8% 2-1.9%

The CSFB/Tremont Hedge Fund Index has returned 138.33% for the 95-month period since inception (January 1, 1994 through November 30, 2001).

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 370 funds as of December 1, 2001, down from 372 funds as of October 1, 2001.  Two funds that are no longer in the Index are Oscar Investment Fund LP, which is no longer reporting performance, and NorthBridge Global Diversified Strategy Fund, which liquidated. The Index is reselected quarterly.
The Index is constructed using a database of more than 2,600 hedge funds.  It includes both U.S. and offshore funds, but does not include funds of funds.  Funds are not excluded until they liquidate or fail to meet the financial reporting requirements, in order to minimize survivorship bias.  In order to qualify for inclusion in the universe, a fund must have US $10 million under management and an audited financial statement.  The Index is calculated on a monthly basis and adjusted 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, Paul Calello, Managing Director; Robert S. Sloan, Managing Director; and Roland Lorenzo, Managing Director, and from Tremont Advisers, Robert I. Schulman, President and Co-CEO.  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 banking firm serving institutional, corporate, government and individual clients. CSFB''''s businesses include securities underwriting, sales and trading, investment and merchant banking, financial advisory services, investment research, venture capital, correspondent brokerage services and online brokerage services. It operates in over 76 locations across more than 37 countries and 6 continents, and has some 26,000 staff worldwide. The Firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company.
 Tremont Advisers, Inc. is a wholly owned subsidiary of Oppenheimer Acquisitions Corp., the parent company of OppenheimerFunds, Inc., one of the nation''''s most respected asset managers.  Tremont is a diversified holding company which, through its subsidiaries, is engaged in three core businesses: advisory services, 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 $9 billion in alternative investment assets.  Through its London-based 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 manages in excess of $1 billion 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.

For further information: Robert S. Sloan (212) 325-2773 
    
Roland Lorenzo 44 (207) 883-6102
    Robert I. Schulman (914) 925-1160

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.