* Mary Richardson promoted to Associate Director - Legal and Regulatory; joined AIMA in 2002.

* Alanda Board promoted to Data and Systems Manager; joined AIMA in 2000.

* Polly Smith joins AIMA as Membership Development Manager.

Florence Lombard, Executive Director, said: "AIMA membership grew by 31% in 2003. These staff changes reflect the need for more specialised staff to meet the needs of our members, institutional investors and regulators. In addition, they are an acknowledgement of the invaluable input the staff provides to the industry."

Founded in 1990, AIMA is a not-for-profit global trade association with nearly 700 corporate members in 43 countries. AIMA focuses specifically on hedge funds, managed futures and managed currency funds. Its corporate members enable the Association to create global tools for the benefit of its members, institutional investors and regulators. Its objectives are:

* to increase investor education, transparency and promote due diligence and related best practices, and

* to work closely with regulators and interested parties in order to promote the responsible use of alternative investments.

AIMA's membership includes fund of funds managers, institutional investors, hedge fund managers, prime brokers, exchanges, fund administrators, auditors, lawyers and other specialist service providers.