Hathersage Hires IT Head to Boost Infrastructure

New York, NY - November 6, 2006 - Hathersage Capital Management today announced that it has hired Rob Schmidt as Director of Information Technology.

Mr. Schmidt, 47, is responsible for the planning, design, implementation and utilization of the company's information infrastructure. He will ensure the timely and robust delivery of IT services throughout the organization, from market data feeds at the trading desk, to management controls in the back office, to client reporting on the corporate web site. He reports to Lewis Broad, President and Director of Administration and Compliance for Hathersage.

"We have recognized a great opportunity to further build our business as institutional investors move beyond currency overlay and seek exposure to active currency management," said Bill Lipschutz, Principal and Director of Portfolio Management for Hathersage and 25-year market veteran. "In response to this opportunity, we are strengthening our infrastructure and Rob is a very important addition to our growing team."

Mr. Schmidt was most recently Chief Executive Officer of Utopian Constructs, an information technology consultancy he founded in 1994. Prior to that, he was a field engineer at Schlumberger Limited providing technical services to the petroleum industry in the Middle and Far East. He graduated from the University of Oxford, England with a Bachelor of Arts in Physics.

Hathersage Capital Management LLC is a discretionary absolute return currency manager that trades spot and forward currency contracts, and over-the-counter foreign currency option contracts in the interbank market. Hathersage has a 15-year track record and has produced an average annual return of 20.73% (net). Hathersage's portfolios are directed by industry veteran Bill Lipschutz. Bill has more than two and a half decades experience in trading substantial FX portfolios and is featured in The New Market Wizards: Conversations with America's Top Traders, by Jack D. Schwager, 1992.