Credit Suisse/Tremont Hedge Fund Index Estimated to Finish Up 0.30% for December, Bringing 2008 Estimated Performance to -18.80%

NEW YORK--(Business Wire)--
Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index ("Broad
Index") will finish up approximately 0.30% in December (based on 74% of assets
reporting).

Prompted by concerns with deflation, on December 16th the US Federal Reserve
lowered the central Fed Funds rate to a range between zero and 25 bps, the
lowest level since 1954. The move points to an expanded role by central banks,
with the Fed announcing it would use "all available tools" to promote economic
growth, including shifting troubled assets from private to public balance sheets
by purchasing agency debt and mortgage-backed securities. The Fed`s announcement
of its quasi-zero interest rate policy (ZIRP), was followed by the Bank of Japan
cutting its overnight lending rate from 0.3% to 0.1%, and announcing that it
would buy corporate debt for the first time. Other countries that implemented
rate cuts included the European Central Bank, the UK, China, Switzerland,
Australia, Taiwan and Korea.

Strategy Estimate

Index Dec-08 2008
Credit Suisse/Tremont Hedge Fund Index 0.30% -18.80%
Convertible Arbitrage -1.27% -31.79%
Dedicated Short Bias -2.55% 13.87%
Emerging Markets 0.25% -30.38%
Equity Market Neutral 1.89% -39.44%
Event Driven -0.26% -16.91%
Distressed -1.37% -19.52%
Event Driven Multi-Strategy 0.28% -15.60%
Risk Arbitrage 1.49% -3.37%
Fixed Income Arbitrage 0.72% -27.72%
Global Macro 1.04% -4.69%
Long/Short Equity 0.85% -19.92%
Managed Futures 2.28% 18.23%
Multi-Strategy -1.66% -23.74%
MSCI World 3.06% -42.08%
Barclays Capital Aggregate Bond Index 6.21% 4.79%
DJ AIG Commodities Index -4.48% -35.65%

In line with this trend of active government intervention, US President-elect
Obama announced in a radio speech on December 6th a major economic recovery plan
for 2009, a component of which will be "the single largest investment in roads,
bridges and public building since the Eisenhower administration."

Investment activity in most hedge fund strategies was relatively quiet
throughout the month, however, as many managers maintained minimal risk
exposures. Ongoing deleveraging in 2008 by funds and investors resulted in an
uncommitted pool of USD 9 trillion in cash that is waiting on the sidelines (as
measured by the St. Louis Federal Reserve).

Persisting trends in bond and currency markets have resulted in gains for
trend-following managers in the Managed Futures/CTAs and Global Macro
strategies. Namely, yields fell following the Fed`s rate cut announcement, with
US 10-year notes touching 2.04% on December 18th, the lowest level since 1953
when records began.

Currency markets also experienced a shift as the US Dollar ended its12 week
rally with a 10% correction, sliding to a low of US$ 1.45 per Euro on December
18th.

Estimates are based on 74% of assets reporting; final December performance will
be published January 15th on Bloomberg and online at www.hedgeindex.com. For a
complete description of the Credit Suisse/Tremont Hedge Fund Index, please see
the index rules available at www.hedgeindex.com.

Credit Suisse Tremont Index LLC is the joint venture company of Credit Suisse
Index Co., Inc., a subsidiary of Credit Suisse Co., Inc., and Tremont Group
Holdings, Inc. Credit Suisse Tremont Index LLC is headquartered at 11 Madison
Avenue, New York, NY 10010-3629.

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In its Asset Management business, Credit Suisse offers products across the full
spectrum of investment classes, ranging from equities, fixed income and
multiple-asset class products, to alternative investments such as private
equity, real estate, hedge funds, and volatility management. Credit Suisse`s
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and corporations to private individuals. With offices focused on asset
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operated as a globally integrated network to deliver the bank`s best investment
ideas and capabilities to clients around the world.

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entities around the world that are subject to distinct regulatory requirements;
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Certain information contained in this document constitutes "Forward-Looking
Statements" (including observations about markets and industry and regulatory
trends as of the original date of this document), which can be identified by the
use of forward-looking terminology such as "may", "will", "should", "expect",
"anticipate", "target", "project", "estimate", "intend", "continue" or
"believe", or the negatives thereof or other variations thereon or comparable
terminology. Due to various risks and uncertainties beyond our control, actual
events, results or performance may differ materially from those reflected or
contemplated in such forward-looking statements. Readers are cautioned not to
place undue reliance on such statements. Credit Suisse has no obligation to
update any of the forward-looking statements in this document.

Credit Suisse Hedge Fund Index Investor Relations
+1 212 538 0583
hfindices.ir@credit-suisse.com
or
Bode Associates
Meg Bode, 516-869-6610
meg@bodeassociates.com
or
Credit Suisse
Suzanne Fleming, 212-325-7396
Corporate Communications
suzanne.fleming@credit-suisse.com

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