Arrow Hedge Partners Inc. Selects RiskMetrics Group.

Date: Thursday, October 31, 2002

Jim McGovern, Managing Director and CEO of Arrow Hedge Partners Inc. announced today an agreement with RiskMetrics Group, a New York based risk analytics and technology firm. Arrow Hedge will implement RiskMetrics Group's full suite of risk management systems tailored specifically for the hedge fund industry to improve risk-adjusted returns through active risk management and provide sophisticated investors and regulators with full risk transparency. "Arrow Hedge is committed to providing clients with superior absolute performance with lower levels of risk and outstanding service through relationships, communications and reporting. RiskMetrics Group is at the forefront in developing methodologies and tools to address the needs of transparency and risk control in the hedge fund community. Our implementation of RiskMetrics Group's products, a first in the Canadian retail hedge fund market, symbolizes Arrow Hedge's commitment to risk management and transparent disclosure on behalf of our sophisticated investor clients," stated Jim McGovern.