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CREDIT SUISSE Tremont Index LLC 11 Madison Avenue Tel. +1 212 538 0583 New York, NY 10010 Fax +1 212 743 1680 U.S.A. Media Release Credit Suisse/Tremont Hedge Fund Index Confirms October performance down 6.30% New York, November 17, 2008 Final Performance for the Credit Suisse/Tremont Hedge Fund Index is down 6.30% in October, according to Oliver Schupp, President of Credit Suisse Index Co., Inc. Mr. Schupp said, “Fund deleveraging continued to be a key theme in October, as volatility created a difficult trading environment for hedge funds. While spikes and contractions in the market can provide an opportunistic environment for managers that arbitrage mispricings in volatility, they can also create a very challenging trading environment.” Schupp went on to explain “The Credit Suisse/Tremont Hedge Fund Index finished down just over 6% for the month. Negative performance was driven primarily by losses in the Emerging Markets and Fixed Income Arbitrage sectors. The Dedicated Short Bias sector continued to do well, up over 9% for October and over 13% year to date.” Performance for the Credit Suisse/Tremont Hedge Fund Index and its ten sub-strategies is calculated monthly. October, September and 2008 year-to-date returns for all categories are listed below and are available at www.hedgeindex.com. Index October September 2008 2008 2008 Credit Suisse/Tremont Hedge Fund -6.30% -6.55% -15.54% Index Convertible Arbitrage -12.59% -12.26% -29.59% Dedicated Short Bias 9.66% -6.08% 13.38% Emerging Markets -13.63% -8.93% -29.24% Equity Market Neutral -1.83% -1.41% -0.19% Event Driven -5.09% -5.75% -13.92% Distressed -5.66% -5.18% -14.11% Event Driven Multi-Strategy -4.77% -6.17% -13.97% Risk Arbitrage -3.06% -3.49% -4.77% Fixed Income Arbitrage -14.04% -6.80% -23.99% Global Macro -5.13% -6.63% -7.10% Long/Short Equity -7.13% -7.81% -19.46% Managed Futures 4.96% -0.57% 11.99% Multi-Strategy -6.94% -7.35% -18.68% S&P 500 TRI Index* -16.79% -8.91% -32.84% Dow Jones World Index* -19.96% -12.72% -40.95% *Total Return Indices CREDIT SUISSE Tremont Index LLC 11 Madison Avenue Tel. +1 212 538 0583 New York, NY 10010 Fax +1 212 743 1680 U.S.A. The following six funds are no longer reporting to the Credit Suisse/Tremont Hedge Fund Index: Melchior Japan (Master) Fund Limited, Aspect European Equity Fund Ltd, Aviva Investors High Growth Shares Fund, KCM Biomedical L.P., Clinton Multistrategy Master Fund Ltd. The following 21 funds were added to the Credit Suisse/Tremont Hedge Fund Index on October 1, 2008: Aristeia, Waterstone Market Neutral Master Fund, Ltd, Vision Emerging Asset Backed Fund Four SPC, RP Explorer Master Fund, Finisterre Global Opportunity Fund, Everest Capital China Opportunity L.P., Paulson Credit Opportunities Fund, York European Opportunities Fund, York Select, LP, Credit Suisse Candlewood Special Situations Fund, One William Street Capital, Paulson Recovery Fund, Loeb Arbitrage Fund, Restoration Holdings Ltd., Aviva Investors Alternative Funds PCC G7 Fixed Income Fund, BlackRock UK Emerging Companies Fund, Criterion Partners, Tenax Financials Fund, Third Avenue Global Value Fund, LP, Quantitative Global Fund, SuttonBrook Capital Portfolio LP. The Index is constructed using the Credit Suisse/Tremont database of more than 5,000 hedge funds. It includes both open and closed funds located in the U.S. and offshore, but does not include fund of funds. In order to qualify for inclusion in the index selection universe, a fund must have a minimum of USD 50 million under management, a 12-month track record, and audited financial statements. Index funds are selected using a formula based on assets under management, which ensures that the Index represents at least 85% of total assets in each of ten strategy-based sectors in the selection universe. In order to minimize survivorship bias, funds are not excluded until they liquidate or fail to meet the reporting requirements. The Index is calculated as a total return index on a monthly basis, adjusted for asset in- and outflows, including a reselection according to the procedure outlined above, on a quarterly basis. The Credit Suisse/Tremont family of hedge fund indices includes four separate indices: 1. The Hedge Fund Index (the “Broad Index”), an asset-weighted benchmark that measures hedge fund performance 2. The AllHedge Index (“SECTAH”), an investable index comprised of all 10 Credit Suisse/Tremont Sector Invest indices weighted according to the sector weights of the Broad Index 3. The Blue Chip Index (“INVX”), an investable index comprised of the 60 largest funds across the ten style-based sectors in the broad index; and 4. The Specialty Indices, the first of which is the LEA Index, an asset-weighted, composite index which provides insight in to three specific regions of the emerging markets hedge fund universe (Latin America, EEMEA (Emerging Europe, Middle East and Africa) and Asia). In accordance with the Credit Suisse/Tremont Investable Hedge Fund Index (“Blue Chip Index”) Rules (the “Index Rules”), and the Credit Suisse/Tremont Sector Invest Indices Rules (the “Sector Invest Rules”), Credit Suisse Tremont Index LLC is publishing the following notice: The following funds are in a Special Rebalancing Situation: Akanthos Arbitrage Fund, Ltd., Argent Classic Convertible Arbitrage Fund Ltd., Amber Fund (Cayman) Ltd., Context Offshore Advantage Fund, Ltd., Compass Holdings Ltd., Temujin International Fund, Ltd., Plexus Fund Ltd., Platinum Grove Contingent Capital Offshore Fund Ltd., Mangart Global Fund Ltd, NWI Explorer Global Fund Ltd, Deephaven Market Neutral Fund Ltd, GLG Market Neutral Fund. Implementation will follow the procedures outlined in the Index Rules. CREDIT SUISSE Tremont Index LLC 11 Madison Avenue Tel. +1 212 538 0583 New York, NY 10010 Fax +1 212 743 1680 U.S.A. Additional features of the Credit Suisse/Tremont Index series include: • Transparency via www.hedgeindex.com and pages on Bloomberg and Reuters • A broad suite of index-linked investment products through Credit Suisse Credit Suisse Tremont Index LLC is the joint venture company of Credit Suisse Index Co., Inc., a subsidiary of Credit Suisse Co., Inc., and Tremont Group Holdings, Inc. Credit Suisse Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629. Contact Information Credit Suisse Hedge Fund Index Investor Relations, telephone +1 212 538 0583, hfindices.ir@credit- suisse.com Meg Bode, Bode Associates, telephone 516 869 6610, email@example.com Suzanne Fleming, Corporate Communications, Credit Suisse, telephone 212 325 7396, firstname.lastname@example.org Credit Suisse As one of the world's leading banks, Credit Suisse provides its clients with private banking, investment banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 49,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com. Asset Management In its Asset Management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income and multiple-asset class products, to alternative investments such as private equity, real estate, hedge funds, and volatility management. Credit Suisse’s Asset Management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 23 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world. The Asset Management business of Credit Suisse is comprised of a number of legal entities around the world that are subject to distinct regulatory requirements; certain asset management products and services may not be available in all jurisdictions or to all client types. # # # # # Certain information contained in this document constitutes “Forward-Looking Statements” (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “target”, “project”, “estimate”, “intend”, “continue” or “believe”, or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.