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October 16, 2000


October 16, 2000
CSFB/TREMONT HEDGE FUND INDEX IS DOWN -0.4% IN SEPTEMBER.
Dedicated Short Bias Index is Top Performer -- Up 9.9% for the Month.

NEW YORK, NY, October 16, 2000 --- --- The CSFB/Tremont Hedge Fund Index is down -0.4% for September 2000, according to Roland Lorenzo, President and Chief Operating Officer of Credit Suisse First Boston Tremont Index LLC.

September was a punishing month for the long-only investors as reflected by the Dow, which was down more than 5% and the NASDAQ, down 12.7%, said Mr. Lorenzo. The dedicated short bias sellers enjoyed good performance and served to smooth-out the overall CSFB Hedge Fund Index returns. The CSFB/Tremont Dedicated Short Bias Index is up 9.9% for September.

It''''s easy to see the positive impact on hedging on the net exposure of a portfolio in the midst of unabated volatility this year, added Robert I. Schulman, President of Tremont Advisers. All the major long-only indices are down year-to-date, and the hedge fund index is up 4.9%

Performance for the CSFB/Tremont Hedge Fund Index and the nine style-driven sub-indices are calculated monthly. September and year-to-date 2000 returns for all categories are listed below and at www.hedgeindex.com.

Category Septmber 2000 YTD 2000
CSFB/Tremont/Index -0.4% 4.9%
Convertible Arbitrage 2.0% 24.3%
Dedicated Short Bias 9.9% -5.0%
Emerging Markets -6.8% -1.8%
Equity Market Neutral -0.1% 12.3%
Event Driven 0.6% 7.7%
Fixed Income Arbitrage 0.8% 4.9%
Global Macro -0.9% 1.3%
Long/Short Equity 0.7% 5.3%
Managed Futures -3.3% -10.0%
Dow Jones Ind. Index -5.0% -7.4%
MSCI EAFE Index -5.0% -12.6%
MSCI World Index -5.4% -8.1%
S&P 500 -5.4% -2.2%
Nasdaq -12.7% -9.7%

The CSFB/Tremont Hedge Fund Index returned 131.1% for the 81-month period since inception (January 1, 1994 through July 31, 2000). 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 335 funds as of July 1, 2000, up from 308 funds. The Index is reselected quarterly, and 37 funds were added in July while 10 funds were dropped. The 37 additional funds include: The Alta Partners Ltd, Balboa Fund Ltd, BPI Global Opportunities Fund Inc (Class I), Chesapeake Preferred LP, CIBC Oppenheimer Technology Partners LLC, The Clinton Arbitrage Fund Ltd, Columbus Emerging Opportunities Fund Ltd, Compass Income Fund, D.E. Shaw Valence Fund 1 LP, D.QUANT Fund/Ramsey Futures Trading, Daedalus Partners LP, Davidson Kempner Institutional Partners LP, Europlus Global Opportunities Plc, Gamma Global Fund Ltd, Gryphon Hidden Values III Ltd, The JLF Offshore Fund Ltd, The JLF Partners I LP, King Street Capital Ltd, Lansdowne European Equity Fund (Euro), Lansdowne European Equity Fund (US$), Maple Row Partners LP, Milton Arbitrage Fund Ltd, The Optima DCF Life Sciences Fund Ltd, Park Place International ''''B'''' Galileo, Petros Fund LP, Phoenix Global Fund Ltd, Rothschild Technology Partners LP, Scoggin International Fund Ltd, Sierra Europe Offshore Ltd, The SISU Capital Fund Limited, Spinner Global Technology Fund Ltd, Spring Point Offshore Fund, The Triumph Fund II LP, Tudor Hawthorn Fund Ltd, Watch Hill Fund LP, Xanthus Fund LLC, Zweig-DiMenna Select LP. The 10 dropped funds are: Lane Arbitrage Ltd, Columbine Dynamic Strategy LP, Quantum Emerging Growth Fund N.V., Doublewood CFM Fund Ltd, Doublewood XLIM Fund Ltd, Zacks Offshore Fund Ltd (Class B Shares), Challenger Futures (Euro), Tiger LP, Ocelot Partners LP, Jaguar Fund NV.

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 COO, and Nicola Meaden, Director. Credit Suisse First Boston Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.

Credit Suisse First Boston is a leading global investment banking firm, providing comprehensive financial advisory, capital raising, sales and trading, and financial products for wholesale users and suppliers of capital around the world. It operates in 57 offices across more than 37 countries and six continents and has over 15,000 staff. Credit Suisse First Boston is one of the world?s largest securities firms in terms of financial resources,
with approximately $9.8 billion in revenues in 1999 and $7.8 billion in equity and $275 billion in assets as of December 31, 1999. The Firm is a wholly owned subsidiary of the Zurich-based Credit Suisse Group. For more information on Credit Suisse First Boston, please visit our website at http://www.csfb.com.

Tremont Advisers, Inc. (TMAV) is a diversified holding company which, through its subsidiaries, is engaged in three core businesses: consulting, 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 Investment Research Ltd, 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.

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 (212) 325-2773
Robert I. Schulman (914) 925-1160
Nicola Meaden 44 (207) 222-0099

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.