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Jason Whitt Named Senior Risk Analyst Of Treflie Capital Management, LLC Bridgehampton NY, January 22, 2004- Treflie Capital Management is pleased to announce that Jason Whitt has joined the firm as Senior Risk Analyst. Mr. Whitt's role at Treflie will include augmenting the Firm's manager selection, due-diligence and monitoring processes, while placing a specific emphasis on portfolio risk management. Treflie will be able to utilize Mr. Whitt's experience in fixed income and investment banking to enhance its investment management infrastructure and the Firm will benefit from Mr. Whitt's large network of contacts within the investment community. Mr. Whitt's financial background includes investment banking experience at Morgan Stanley in Global Capital Markets and Lehman Brothers in Leveraged Finance Capital Markets. Earlier in his career, he worked at Banc of America Securities in the Credit Strategy Research Group and at Lord, Abbett & Company in Investment Management Marketing. Mr. Whitt has an International MBA degree with a concentration in Finance from the University of Chicago Graduate School of Business and a B.A. with a concentration in Political Science from Colgate University. "We are very pleased to have Jason join our management team Treflie Capital, commented Victor Cain, Managing Member of the Fund Group. Jason provides a strong analytic background coupled with practical experience that helps solidify the management infrastructure so important to the growth of our 'Family of Funds' . Treflie Capital Management, based in Bridgehampton, NY was established in 1996 and currently manages and advises on over $175 million in assets in various Fund of Fund strategies.

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