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Pro-Hedge Multi-Manager Elite Fund launched with all-star lineup of managers

Date: Friday, October 31, 2003

Pro-Hedge Funds Inc. ices a team to include power play unit of O'Donnell, Mersch, Sprott, Vollendorf and Mansur Capital. Pro-Hedge Funds Inc. introduces the Pro-Hedge Multi Manager Elite Fund, a new investment product taking full advantage of some of the best money management minds in North America. The team assembled is second to none in Canadian investment circles, and the low initial investment of $5,000 makes it easier for qualified investors to access this elite group of managers than ever before. The new fund is a multi-manager, multi-strategy hedge fund or "fund of funds" that will allocate assets among managers selected by Pro-Hedge Funds Inc. including Jim O'Donnell, Frank Mersch, Eric Sprott, Gene Vollendorf, and Dennis Heskell of Chicago-based Mansur Capital. "Until now, some of the managers in this fund have been available only to the very wealthy and to institutional investors, with minimum initial investments as much as $1 million," said Stuart McKinnon, CEO and President of Pro-Hedge Funds Inc. "Pro-Hedge now offers Canadians access to these elite money managers through a product that's right for the times and for an initial investment of just $5,000 for qualified investors." The fund objective is to earn a positive return on capital each year regardless of general market conditions. This will be achieved by allocating the Fund's investments among a variety of underlying funds with differing investment strategies - an approach also designed to reduce volatility. The Pro-Hedge Multi Manager Elite Fund is RSP-eligible as foreign content and is available through financial advisors nationwide. Pro-Hedge has engaged Lawrence & Co. as investment advisor to the fund. Also included on the 8-man Investment Advisory Board: former Bank of Canada head John Crowe, former Burns Fry chair Jack Lawrence and Monty Gordon of Gordon Capital fame. "We're going to let our diverse group of all-stars do what they do better than anyone - maintain their various styles and strategies that have made them among the best in the business today," McKinnon continued. Pro-Hedge Funds Inc. brings together some of the world's leading investment managers to create unique investment products for Canadians. The company's investment philosophy emphasizes capital preservation combined with proven strategies that have produced consistent returns regardless of market conditions. Recent successes include the sale of $40 million worth of Pro- Hedge Principal Protected Notes (Univest Series 1) issued by SG Canada with the guarantor Soci Det De G Den Derale, a French banking corporation with total assets in excess of $820 billion. For more information on Pro-Hedge Funds Inc. please visit www.pro-hedge.com VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: http://www.newswire.ca/cgi-bin/inquiry.cgi?OKEY=8410 -0- 10/31/2003 /For further information: David Holmes, (416) 628-5605, dholmes(at)holmesmark.com/ CO: Pro-Hedge Funds Inc