Ritchie Capital Announces Settlement with Regulators Related to Mutual Fund Trading

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Tue Feb 5, 2008 2:12pm EST 

LISLE, Ill.--(Business Wire)--
Ritchie Capital announced today that Ritchie Multi-Strategy Global
Trading, Ltd. (the "Fund") and Ritchie Capital Management, L.L.C. (the
"Investment Manager") have reached a settlement with the United States
Securities and Exchange Commission and the New York Attorney General
regarding their joint investigation into trading in shares of mutual
funds by the Fund in the period 2001 through September 2003.

   Thane Ritchie, chief executive officer of Ritchie Capital, said
"We are pleased to put this matter behind us, and we will continue our
other efforts to maximize value for all of our investors."

   Under the settlement, neither the Fund nor the Investment Manager
will admit or deny the findings set out in the SEC and NYAG's orders.
The Fund will pay $30 million of "disgorgement" plus $7.44 million in
interest that will be distributed to the affected mutual funds. The
Investment Manager has agreed to pay a $2.5 million penalty.

   About Ritchie Capital

   Ritchie Capital is a diversified alternative asset management firm
established in 1997 with interests in hedge funds, private equity,
venture capital, insurance, energy and real estate and with offices in
Lisle, IL, New York, Bermuda, and Menlo Park, CA.

   For more background on Ritchie Capital, please contact Justin
Meise at 845-226-8970 or jmeise@riverinc.com.

Ritchie Capital
Justin Meise, 845-226-8970
jmeise@riverinc.com

Copyright Business Wire 2008
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