Brownstone Asset Management - 5 Years, $500 Million Aum

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Stefan Prelog Walek & Associates 212.590.0523 [email protected]

BROWNSTONE SURPASSES $500 MILLION UNDER MANAGEMENT, HITS FIVE YEAR TRACK RECORD Introduces Monthly Liquidity Option for Investors NEW YORK, September 14, 2009 – Brownstone Asset Management (‘Brownstone’), an investment manager that specializes in long/short credit investing, today announced the joint milestones of surpassing $500 million under management and hitting its five-year track record. Brownstone was formed in 2004 by co-Founders and Portfolio Managers Doug Lowey and Oren Cohen, who both have about 20 years experience in the credit arena on the buy and sell-sides. The firm’s assets have grown steadily since the firm’s inception, starting with $28 million in 2004 and rising to $550 as of September 1, 2009. “Our accomplishment is a testament to our proven and repeatable investment process,” said Mr. Cohen. “Our mission remains the same as it was on day one - to capture alpha from both long and short opportunities throughout the credit cycle.” “We’ve been able to create an absolute return strategy by combining intensive research with the ability to trade around the broader credit cycle,” said Mr. Lowey. “The credit markets still provide compelling opportunities particularly compared to equities that require real growth for further appreciation.” The firm has amassed a solid five year track record with no down years or quarters. Having hit a critical mass in assets and now boasting a five-year track record, the firm expects further interest from the institutional investor community, especially pensions, foundations and endowments. “Our goal has always been to manage our growth prudently and it will never be at the expense of our investment product and our client-centric philosophy,” said Curt Schade, COO. Brownstone also announced today that they are now offering investors a monthly liquidity option. “We’ve always worked with our investors with urgent liquidity needs,” said Schade. “This marks a formalization of our philosophy and practices,” he said. Brownstone Asset Management is a New York-based investment manager that specializes in long/short credit investing primarily within high yield and distressed markets. The firm launched in July 2004 and has approximately $500 million under management. The firm’s flagship strategy, Brownstone Partners Catalyst Fund was ranked #82 in the latest Barron’s Top 100 Hedge Fund ranking. # # #