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September 24, 2001


September 24, 2001

FINAL HEDGE FUND PERFORMANCE FOR AUGUST NOW  AVAILABLE CSFB/TREMONT HEDGE FUND INDEX UP 0.9%
Dedicated Short Bias Index Is Strongest Performer - Up 3.7%

NEW YORK, NY, September 24, 2001  --  All hedge funds in the CSFB/Tremont Hedge Fund Index have now reported August performance following a one-week delay due to the tragedy at the World Trade Center. 
The CSFB/Tremont Hedge Fund Index remains up 0.9% for August 2001 and 3.0% year-to-date, unchanged from the provisional performance reported last week, according to Robert S. Sloan, Chief Executive Officer of Credit Suisse First Boston Tremont Index LLC.  ''''The final numbers are just slightly different from those released on September 17.  The Master Index remains up 0.9% for the month, significantly outperforming the Dow , the S&P and the NASDAQ,'''' said Mr. Sloan. 
 ''''Hedge funds continue to provide important diversification benefits as investors world-wide struggle with very volatile and difficult markets,'''' said Nicola Meaden, Director of Tremont Advisers.
Performance for the CSFB/Tremont Hedge Fund Index and the nine style-driven sub-indices are calculated monthly. Final results for August 2001, July 2001, and year-to-date for all categories are listed below and at www.hedgeindex.com.

Category August 2001 July 2001 YTD
CSFB/Tremont/Index 0.9% 0.0% 3.0%
Convertible Arbitrage 1.5% 1.1% 11.3%
Dedicated Short Bias 3.7% 4.1% 7.5%
Emerging Markets 1.1% -3.0% -0.6%
Equity Market Neutral 1.0% 0.2% 7.8%
Event Driven 1.6% 0.5% 9.6%
Fixed Income Arbitrage 0.6% 0.9% 6.2%
Global Macro 1.0% 0.7% 13.3%
Long/Short Equity 0.4% -0.7% -3.6%
Managed Futures 2.5% 0.2% 1.9%
Dow Jones Ind. Index -5.5 0.2% -7.8%
MSCI EAFE Index -2.7% -1.9% -19.3%
MSCI World Index -5.0% -1.4% -16.7%
S&P 500 -6.4% -1.1% -14.1%
Nasdaq -10.9% -6.2% -26.9%

The CSFB/Tremont Hedge Fund Index returned 137.9% for the 92-month period since inception (January 1, 1994 through August 30, 2001).

For additional current and historical data including more comparisons with other widely followed global indices, visit the web site at www.hedgeindex.com.
The CSFB/Tremont Hedge Fund Index is comprised of 375 funds as of July 1, 2001, up from 339 funds.  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, Director, and from Tremont Advisers, Robert I. Schulman, President and Co-CEO, and Nicola Meaden, Managing Director.  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 28,000 staff worldwide. The Firm is a business unit of the Zurich based Credit Suisse Group, a leading global financial services company.
 Tremont Advisers, Inc. (TMAV) 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 $6.5 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 $500 million 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.
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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
    Nicola Meaden 44 (207) 222-0099
PR Contact:    Meg Bode  (516) 869-6610


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