Focus expects to launch the Arbitrage Enhanced Fund with approximately USD
25 million from new investors and existing investors.

Focus Arbitrage Fund, the firm's flagship arbitrage fund, has been actively
running since March of 1998 and has successfully raised over USD 100 million.

The fund's annualised volatility under 3.45% and consistent annualized returns
exceeding 6% since inception has prompted Focus to offer a leveraged version
of the same fund. The Focus Arbitrage Enhanced Fund will be managed pari
passu with the unleveraged fund, and will be leveraged dynamically up to a
maximum of 2.5:1.

The Focus Arbitrage Fund is a diversified fund of hedge funds, which currently
invests across 28 managers focusing on Merger Arbitrage, Convertible
Arbitrage, Event Driven, Equity Market Neutral, Volatility Arbitrage, Fixed Income
Arbitrage, Multiple Arbitrage and Long/Short High Yield strategies. The fund
closed 2003 up 9.33%, which falls at the top end of its 6 - 10% annual return
target.

Eugenio Verzili, Managing Director of Focus Investment Group, said: "Since the
founding of Focus, we have always concentrated on identifying highly
specialised, independent hedge fund managers with a clear edge in the way
they execute their strategies. The Focus Enhanced Fund is a confirmation of
this expertise, with a solid and well-diversified stable of managers."

Verzili added: "We are looking for a small performance boost and have decided
to leverage the fund dynamically at a maximum of 2.5 to 1. Our investors can
expect returns to be in the 12% - 15% range, with volatility around 8%."

Background Note: Focus Investment Group pioneered the specialist-driven
"Multi-Manager" concept and has become a leader in the alternative asset
management industry. Focus Investment Group is an independent employee
owned asset management firm with USD 1 billion under management and
advisement, and a global presence.Focus Investment Group is well known for
its industry leading transparency and reporting through a proprietary  technology
platform as well as a rigorous manager selection/monitoring, portfolio
construction, and risk management process.