Canadian Hedge Fund Manager J.C. Clark Ltd to Participate in New Investable Hedge Fund Index

Date: Thursday, August 14, 2003

August 14, 2003/Toronto, ON… One of the core hedge funds advised by Toronto-based investment manager J.C. Clark Ltd has been included in the MSCI® Hedge Invest Index, a major new investable hedge fund index constructed by Morgan Stanley Capital International (MSCI) using eligible funds from the platform of Lyxor Asset Management, a subsidiary of Société Générale. According to MSCI’s recent press release announcing the launch of the index, the MSCI Hedge Invest Index will consist of a diverse sample of hedge funds that represent a broad range of hedge fund strategies and have weekly liquidity. Initially there will be approximately 60 funds in the hedge and J.C. Clark is currently the only Canadian investment advisor to be included. “We are very pleased to be part of in this landmark initiative” says John Clark, CEO of J.C. Clark Ltd. “In addition, we are also pleased to see a growing international interest in Canadian Hedge Funds”. According to MSCI’s press release, MSCI has launched the index in response to demand from investors globally for a liquid and representative hedge fund index that can be used as the basis for a wide range of index linked financial products such as funds, derivatives and structured products. J.C. Clark Ltd. J.C. Clark Ltd is a leading manager of alternative investments serving the Canadian and European institutional investor and family office communities. Its flagship long/short equity fund is one of Canada’s largest such funds and has a 4-year compounded return of approximately 25% per annum. J.C. Clark also manages targeted long-only and sector-specific funds using a “bottom-up” investment strategy.