WisdomTree Announces First Quarter 2009 Results

* Reuters is not responsible for the content in this press release.

Wed Apr 29, 2009 8:10pm EDT

Continued net inflows for the quarter

24 out of 42 equity funds outperformed benchmarks through Q1

Approximately 69% of equity assets currently in funds that have beaten
respective benchmarks since inception

Company decides to enter leveraged and inverse category with innovative solution
NEW YORK--(Business Wire)--
WisdomTree (Pink Sheets: WSDT - News), an industry leading index developer and
exchange-traded fund ("ETF") sponsor, today reported a net loss of $6.0 million
in the first quarter of 2009 as compared to $5.0 million in the fourth quarter
of 2008. Proforma operating net loss, which excludes stock-based compensation,
depreciation and amortization, and interest and investment income, was $4.0
million in the quarter as compared to $3.0 million in the fourth quarter. 

WisdomTree CEO Jonathan Steinberg commented, "Though the challenging market
environment has continued into 2009, the financial crisis has served to
highlight the important benefits of ETFs. We continue to see net inflows into
the ETF industry and at WisdomTree at the expense of other investment products
thanks to the importance investors continue to place on transparency, liquidity
and tax efficiency. 

"WisdomTree has taken steps to diversify its product set and evolve as an asset
management company. The Company has broadened its equity offerings, entered the
fixed income asset class and announced its intentions to enter other new
categories with innovative offerings. These are among the developments we
believe will position WisdomTree competitively for an eventual market recovery."


Assets Under Management and Performance

As of March 31, 2009, assets under management ("AUM") tied to the WisdomTree
indexes were $3.2 billion and ETF AUM was $2.8 billion, both down 13% from
December 31, 2008. Net inflows into WisdomTree ETFs were $22.5 million in the
first quarter. 

WisdomTree`s fundamentally weighted ETFs experienced relatively strong
investment performance through the first quarter. Approximately 69% of the $2.6
billion invested in WisdomTree`s 42 equity ETFs on March 31, 2009 were in funds
that, since their respective inceptions, have outperformed their benchmarks
through that date. 24 of WisdomTree`s 42 equity ETFs outperformed their
comparable benchmarks since inception through the first quarter. For complete
performance information on all WisdomTree ETFs, please click here or visit
www.wisdomtree.com. 

Recent Business Activity

* The week of May 4, 2009, WisdomTree intends to launch the WisdomTree Dreyfus
Emerging Currency Fund (CEW). The fund will provide exposure to a basket of 11
Emerging Market currencies in the ETF structure. 
* On April 20, 2009, MacroMarkets, LLC, announced that it had entered into a
collaboration with WisdomTree Asset Management in which WisdomTree will assist
in the introduction of the MacroShares Major Metro Housing Up Trust (UMM) and
MacroShares Major Metro Housing Down Trust (DMM). WisdomTree will provide
educational and product support to MacroMarkets. 
* On April 29, 2009, WisdomTree`s India Earnings Index was named the Most
Innovative Index in 2008 at the 8th Annual Capital Link Forum on Closed-End
Funds & Global ETFs. These awards are based on nominations by a committee of
industry analysts.

WisdomTree has undertaken certain fund restructurings in an effort to streamline
the Company`s domestic and international product set, diversify its product mix,
improve operational efficiencies and strengthen the competitive position of its
product offerings. The changes help to establish new, distinct offerings for
WisdomTree while also simplifying the Company`s overall product lineup.

* On March 27, 2009, WisdomTree announced that it will transition the WisdomTree
U.S. Current Income ETF (USY) into a short-term government bond fund. The Fund
will be renamed the WisdomTree Short-Term Government Income Fund. These changes
reposition USY as a unique short-term bond ETF focused on government securities
at the short end of the yield curve. These changes will be implemented at the
end of May. This development marks WisdomTree`s first fixed income ETF. 
* On April 10, 2009, WisdomTree announced the WisdomTree Europe Equity Income
Fund (DEW) will change its investment objective and be renamed the WisdomTree
Global Equity Income Fund. The Fund will become a "global" fund that invests in
high dividend-yielding stocks listed in the U.S., developed markets and emerging
markets. These changes will be implemented on or about June 19, 2009. 
* On April 10, 2009, WisdomTree announced the WisdomTree Japan Equity Income
Fund (DNL) will change its investment objective and be renamed the WisdomTree
World ex-US Growth Fund. The Fund will change its investment objective so that
it seeks to track the performance of WisdomTree`s new fundamentally weighted
index that measures the performance of growth companies in the developed and
emerging markets outside of the United States. These changes will be implemented
on or about June 19, 2009. 
* On February 24, 2009, WisdomTree announced that it will change the investment
objective of two of its ETFs - the WisdomTree Dividend Top 100 Fund (DTN) and
the WisdomTree International Dividend Top 100 Fund (DOO). These ETFs will be
renamed the WisdomTree Dividend ex-Financials Fund and the WisdomTree
International Dividend ex-Financials Fund. Both Funds will continue to invest in
high dividend-yielding stocks, but they will no longer invest in companies in
the financial sector. These changes will be implemented beginning in early May.
The change will diversify WisdomTree`s dividend offerings and create the
industry`s first dividend-focused ETFs that exclude financials. 
* On April 10, 2009, WisdomTree announced the WisdomTree Low P/E Fund (EZY) will
change its investment objective and be renamed the WisdomTree LargeCap Value
Fund. The Fund will seek to track the performance of WisdomTree`s new
fundamentally weighted index that measures the performance of large cap value
companies in the United States. These changes will be implemented on or about
June 19, 2009.

Future Product Plans

Leveraged and Inverse

The leveraged and inverse category was the fastest-growing part of the industry
in 2008. However, many investors have expressed concerns over capital gain
distributions and significant inconsistencies in directional movement associated
with existing leveraged and inverse products when held over longer investment
periods. WisdomTree believes it has identified an innovative solution to these
two issues for both long-term and short-term investors and intends to enter this
category after obtaining regulatory approval for its products. 

Fixed Income

WisdomTree intends to launch the WisdomTree Real Return Fund. This will be a
fixed income fund designed to provide investors with a target return in excess
of the inflation rate through investment in TIPS and commodities. 

Commodities

WisdomTree intends to launch the WisdomTree Long-Short Commodity Fund. This will
be a commodity fund designed to generate an absolute return through a dynamic
allocation to long and short commodity positions. 

Alternative

WisdomTree intends to launch the WisdomTree Absolute Return Fund. This fund will
seek to generate an absolute return through a dynamic allocation to long and
short commodity and financial futures positions. 

WisdomTree intends to launch the WisdomTree Long-Short Equity Fund. This fund
will seek to give investors "market neutral" exposure to U.S. and non-U.S.
equity markets. It will be an actively managed strategy designed to capture
potential excess returns between WisdomTree ETFs and comparable
capitalization-weighted indexes. 

Currency Hedged Equities

WisdomTree intends to launch the WisdomTree DEFA Hedged Fund. This will be a
currency hedged international equity strategy. 

First Quarter Financial Highlights

Comparison to the fourth quarter of 2008

Revenues

Total revenues for the first quarter decreased 12.5% to $3.7 million as compared
to $4.2 million in the fourth quarter. Average ETF assets under management
decreased 9% primarily due to market declines despite $22.5 million of net
inflows. The average advisory fee earned during the first quarter was 0.50% down
from 0.51% in the fourth quarter primarily due to a change in the mix of ETFs
assets. 

The overall market declines in the first quarter contributed significantly to
reducing ETF asset levels to a low of $2.4 billion on March 9, 2009, a level
WisdomTree last experienced in the first quarter of 2007. Since that low, ETF
asset levels have increased 25% to $3.0 billion as of April 29, 2009. 

Expenses

Total expenses increased 5.3% to $9.9 million, from $9.4 million in the fourth
quarter. Excluding stock-based compensation and depreciation and amortization
charges, proforma operating expenses increased 6.8% to $7.7 million, from $7.2
million in the fourth quarter. 

On an annualized basis, first quarter proforma operating expenses declined 25%
from the comparable full year 2008 amount due to continuing cost reduction
actions to lower the Company`s operating expense levels. However, market
declines, which led to lower revenues, exceeded these reductions contributing to
a higher proforma operating loss in the first quarter compared to the fourth
quarter.

* Compensation and benefits expense increased 72.8% to $4.8 million from $2.8
million in the fourth quarter. Excluding stock-based compensation, compensation
and benefits expense increased to $2.7 million from $1.0 million. The increase
was primarily due to changes in accruals for incentive compensation. The fourth
quarter of 2008 reflected a true up adjustment to reduce incentive compensation
for the full year. The first quarter of 2009 reflects a normalized, and lower
level, of incentive compensation on an annual basis. 
* Fund management and administration expenses decreased 18.4% to $3.2 million
from $3.9 million in the fourth quarter primarily due to lower portfolio
management and fund administration fees due to lower average asset levels. 
* Marketing and business development decreased 8.0% to $0.9 million from $1.0
million in the fourth quarter due to lower advertising spending due to the
current market environment. 
* Professional fees were relatively flat at $0.3 million; however, excluding
stock based compensation, professional fees declined 45.2% primarily due to
lower legal fees. 
* Occupancy, communications and equipment expense decreased 24.5% to $0.3
million from $0.4 million in the fourth quarter due to sub-leasing excess office
space in our corporate office. 
* Other expenses decreased 60.3% to $0.4 million from $1.0 from the fourth
quarter. Excluding stock-based compensation, other expenses decreased 27.1% to
$0.4 million from $0.5 million. The fourth quarter of 2008 reflected a non-cash
loss for excess sub-leased office space.

Balance Sheet

As of March 31, 2009, WisdomTree had total assets of $31.3 million which
consisted primarily of cash and cash equivalents of $10.6 million, and
investments in U.S. agency debt instruments of $16.9 million. WisdomTree has no
debt. There were approximately 106.9 million shares outstanding as of March 31,
2009. Fully diluted shares outstanding were approximately 128.3 million as of
March 31, 2009. 

2008 Results

As stated in its fourth quarter 2008 earnings release, the Company determined it
had incorrectly accounted for certain stock-based awards granted from 2003
through 2008. The cumulative affect of the adjustments correcting this error is
an overstatement of $0.4 million. A schedule of the proposed adjustments and
affect on the Company`s 2008 results are included in this release. The Company
is currently working with its previous auditors to restate its prior results and
will publish its restated audited results when the review is complete. 

First Quarter 2009 Earnings Call Information

WisdomTree will discuss its results and operational highlights during a
conference call on Thursday, April 30 at 9:00 a.m. ET. The call-in number will
be (888) 680-0878, passcode 98210740. Anyone outside the U.S. or Canada should
call (617) 213-4855, passcode 98210740. The slides used during the presentation
will be at www.wisdomtree.com/ir. For those unable to join the conference call
at the scheduled time, an audio replay will be available on
www.wisdomtree.com/ir. 

About WisdomTree

WisdomTree is a leading ETF sponsor and innovative index developer using its own
fundamentally weighted index methodology. WisdomTree also licenses its indexes
to third parties for proprietary products and offers a platform to promote the
use of WisdomTree ETFs in 401(k) plans. Approximately $3.4 billion in assets
currently are managed against the WisdomTree Indexes by WisdomTree and third
parties under license from WisdomTree. For more information, please visit
www.wisdomtree.com or www.wisdomtree401k.com. WisdomTree is the marketing name
for WisdomTree Investments, Inc. and its wholly owned subsidiaries WisdomTree
Asset Management, Inc. and WisdomTree Retirement Services, Inc. 

WisdomTree Asset Management, Inc. is a registered investment advisor and is the
investment advisor to the WisdomTree Trust and the WisdomTree ETFs. The
WisdomTree Trust is a registered open-end investment company. Each WisdomTree
ETF is a series of the WisdomTree Trust. WisdomTree Retirement Services, Inc.
supports the use of the WisdomTree ETFs in retirement plans by financial
professionals.

 WISDOMTREE INVESTMENTS, INC.                                                                                                                
 CONSOLIDATED STATEMENTS OF OPERATIONS                                                                                                       
 (in thousands, except per share amounts)                                                                                                    
 (Unaudited)                                                                                                                                 
                                                                                                                                       
                                                                                                                                       
                                                       For the Three Months Ended                                                          
                                                       March 31,                   December 31,                  March 31,             
                                                             2009                       2008                       2008          
                                                                                   Restated                      Restated              
                                                                                                                                       
 Revenues                                              $     3,695               $      4,221                $     5,421         
                                                                                                                                       
 Expenses:                                                                                                                             
 Compensation and benefits                                   4,751                      2,750                      6,735         
 Fund management and administration                          3,191                      3,910                      3,523         
 Marketing and business development                          910                        989                        3,379         
 Professional fees                                           303                        295                        738           
 Occupancy, communication and equipment                      274                        363                        435           
 Depreciation and amortization                               90                         90                         75            
 Other                                                       409                        1,030                      323           
                                                                                                                                       
 Total expenses                                              9,928                      9,427                      15,208        
                                                                                                                                       
 Operating loss                                              (6,233   )                 (5,206   )                 (9,787  )     
                                                                                                                                       
 Interest and investment income                              222                        245                        573           
                                                                                                                                       
 Net loss                                              $     (6,011   )          $      (4,961   )           $     (9,214  )     
                                                                                                                                       
                                                                                                                                       
                                                                                                                                       
 Net loss per share - basic and diluted                $     (0.06    )          $      (0.05    )           $     (0.09   )     
                                                                                                                                       
 Weighted average common shares - basic and diluted          101,561                    100,955                    99,494        
                                                                                                                                 


 WISDOMTREE INVESTMENTS, INC                                                                                                                  
 NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS                                                                                             
 (in thousands)                                                                                                                               
 (Unaudited)                                                                                                                                  
                                                                                                                                        
                                                 For the Three Months Ended                                                                 
                                                 March 31,                         December 31,                   March 31,             
                                                         2009                            2008                       2008          
                                                                                   Restated                       Restated              
                                                                                                                                        
 Revenues                                        $       3,695                   $       4,221                $     5,421         
                                                                                                                                        
 Operating expenses:                                                                                                                    
 Compensation and benefits                               2,732                           1,030                      4,499         
 Fund management and administration                      3,191                           3,910                      3,523         
 Marketing and business development                      910                             989                        3,379         
 Professional fees                                       230                             420                        319           
 Occupancy, communication and equipment                  274                             363                        435           
 Other                                                   357                             490                        248           
                                                                                                                                        
 Total operating expenses                                7,694                           7,202                      12,403        
                                                                                                                                        
 Operating loss                                          (3,999  )                       (2,981  )                  (6,982  )     
                                                                                                                                        
 Stock-based compensation                                2,144                           2,135                      2,730         
 Depreciation and amortization                           90                              90                         75            
 Interest and investment income                          (222    )                       (245    )                  (573    )     
                                                                                                                                        
 Net loss                                        $       (6,011  )               $       (4,961  )            $     (9,214  )     


                                                                                         
 WISDOMTREE INVESTMENTS, INC.                                                            
 CONSOLIDATED BALANCE SHEET                                                              
 (in thousands)                                                                          
 (Unaudited)                                                                             
                                                                                         
                                               March 31,          December 31,       
                                               2009               2008               
                                                                  Restated           
 ASSETS                                                                              
 Current assets:                                                                     
 Cash and cash equivalents                     $      10,563     $        13,275   
 Investments                                          3,108               4,593    
 Accounts receivable                                  1,360               1,530    
 Other current assets                                 1,231               875      
                                                                                     
 Total current assets                                 16,262              20,273   
                                                                                     
 Fixed assets, net                                    1,185               1,266    
 Investments                                          13,744              13,191   
 Other long-term assets                               86                  126      
                                                                                     
 Total assets                                  $      31,277     $        34,856   
                                                                                     
                                                                                     
 LIABILITIES AND STOCKHOLDERS' EQUITY                                                
 LIABILITIES                                                                         
 Current liabilities:                                                                
 Fund management and administration payable    $      10,627     $        8,966    
 Compensation and benefits payable                    735                 2,012    
 Other accounts payable                               1,416               1,385    
                                                                                     
 Total current liabilities                            12,778              12,363   
                                                                                     
 Other liabilities                                    509                 615      
                                                                                     
 Total liabilities                                    101,561             12,978   
                                                                                     
                                                                                     
                                                                                     
 Stockholders' equity                                 17,990              21,878   
                                                                                     
 Total liabilities and stockholders' equity    $      31,277     $        34,856   
                                                                                   


 WISDOMTREE INVESTMENTS, INC.                                                                                                         
 CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                                
 (in thousands)                                                                                                                       
 (Unaudited)                                                                                                                          
                                                                                                                                  
                                                                                                                                  
                                                                                For the Three Months Ended                          
                                                                                March 31,                   March 31,             
                                                                                      2009                      2008          
 Cash flows from operating activities                                                                       Restated              
 Net loss                                                                       $     (6,011  )           $     (9,214  )     
 Adjustments to reconcile net loss to net cash used in operating activities:                                                      
 Depreciation, amortization and other                                                 90                        413           
 Stock-based compensation                                                             2,144                     2,730         
 Deferred rent expense                                                                (106    )                 25            
 Accretion to interest income                                                         (61     )                 42            
 (Increase) / Decreases in operating assets and liabilities:                                                                      
 Accounts receivable                                                                  170                       219           
 Other assets                                                                         (316    )                 (102    )     
 Fund management and administration payable                                           1,661                     2,001         
 Compensation and benefits payable                                                    (1,277  )                 (1,334  )     
 Other accounts payable                                                               8                         277           
                                                                                                                                  
 Net cash used in operating activities                                                (3,698  )                 (4,943  )     
                                                                                                                                  
 Cash flows from investing activities                                                                                             
 Purchase of fixed assets                                                             (8      )                 (609    )     
 Purchase of investments                                                              (2,786  )                 (9,735  )     
 Proceeds from investments                                                            3,780                     15,396        
                                                                                                                                  
 Net cash provided by investing activities                                            986                       5,052         
                                                                                                                                  
 Cash flows from financing activities                                                 --                        --            
                                                                                                                                  
 Net (decrease) / increase in cash and cash equivalents                               (2,712  )                 109           
                                                                                                                                  
 Cash and cash equivalents - beginning of period                                      13,275                    15,138        
                                                                                                                                  
 Cash and cash equivalents - end of period                                      $     10,563              $     15,247        
                                                                                                                                  
 Supplemental disclosure of cash flow information                                                                                 
                                                                                                                                  
 Cash paid for income taxes                                                     $     3                   $     3             
                                                                                                                              


 WisdomTree Investments, Inc.                                                                                                 
 Key Operating Statistics                                                                                                     
                                                                                                                        
                                                 For the Three Months Ended                                                 
                                                 March 31,                December 31,               March 31,          
                                                 2009                     2008                       2008               
 Total assets under management (in thousands)                                                                           
 ETFs                                            2,775,647               3,180,133                 4,296,257         
 Non-ETFs                                        399,110                 462,513                   85,481            
 End of period assets                            3,174,757               3,642,646                 4,381,737         
                                                                                                                        
 Total ETFs (in thousands)                                                                                              
 Beginning of period assets                      3,180,133               4,074,954                 4,558,796         
 Inflows/(Outflows)                              22,485                  29,534                    135,201           
 Market appreciation/(depreciation)              (426,971   )            (924,355   )              (397,741   )      
 End of period assets                            2,775,647               3,180,133                 4,296,257         
                                                                                                                        
 Average assets during the period                2,885,250               3,176,375                 4,243,344         
                                                                                                                        
 International ETFs (in thousands)                                                                                      
 Beginning of period assets                      1,723,243               2,301,002                 2,985,606         
 Inflows/(Outflows)                              (3,182     )            9,710                     33,343            
 Market appreciation/(depreciation)              (194,764   )            (587,469   )              (259,549   )      
 End of period assets                            1,525,297               1,723,243                 2,759,400         
                                                                                                                        
 Average assets during the period                1,572,388               1,763,032                 2,721,469         
                                                                                                                        
 Sector ETFs (in thousands)                                                                                             
 Beginning of period assets                      246,502                 361,436                   546,564           
 Inflows/(Outflows)                              (19,624    )            (32,179    )              13,551            
 Market appreciation/(depreciation)              (36,780    )            (82,755    )              (45,717    )      
 End of period assets                            190,098                 246,502                   514,398           
                                                                                                                        
 Average assets during the period                211,554                 262,956                   533,666           
                                                                                                                        
 US ETFs (in thousands)                                                                                                 
 Beginning of period assets                      986,568                 983,435                   1,026,626         
 Inflows/(Outflows)                              81,038                  241,244                   88,308            
 Market appreciation/(depreciation)              (201,382   )            (238,111   )              (92,474    )      
 End of period assets                            866,224                 986,568                   1,022,459         
                                                                                                                        
 Average assets during the period                896,404                 844,368                   988,209           
                                                                                                                        
 Currency ETFs (in thousands)                                                                                           
 Beginning of period assets                      223,820                 429,081                   -                 
 Inflows/(Outflows)                              (35,747    )            (189,241   )              -                 
 Market appreciation/(depreciation)              5,955                   (16,020    )              -                 
 End of period assets                            194,028                 223,820                   -                 
                                                                                                                        
 Average assets during the period                204,904                 306,019                                      
                                                                                                                        
 Average assets based on total ETFs                                                                                     
 International ETFs                              55         %            55         %              64         %      
 Sector ETFs                                     7          %            8          %              13         %      
 US ETFs                                         31         %            27         %              23         %      
 Currency ETFs                                   7          %            10         %              0          %      
                                                                                                                        
 Average advisory fee - during the period                                                                               
 International ETFs                              0.59       %            0.59       %              0.57       %      
 Sector ETFs                                     0.58       %            0.58       %              0.58       %      
 US ETFs                                         0.33       %            0.34       %              0.34       %      
 Currency ETFs                                   0.42       %            0.42       %              0.00       %      
 Blended Total                                   0.50       %            0.51       %              0.52       %      
                                                                                                                        
 Number of ETFs                                                                                                         
 International ETFs                              18                      18                        17                
 Sector ETFs                                     11                      11                        11                
 US ETFs                                         13                      13                        12                
 Currency                                        8                       8                         -                 
 Total                                           50                      50                        40                
                                                                                                                     


 WISDOMTREE INVESTMENTS, INC.                                                                                                                      
 PROPOSED ADJUSTMENTS                                                                                                                              
 RELATED TO SHARE-BASED COMPENSATION                                                                                                               
 (in thousands)                                                                                                                                    
 (Unaudited)                                                                                                                                       
                                                                                                                                         
                                                                                                                                         
                                           For the Years Ended December 31,                                                  Cumulative        
                                           2005               2006                2007                2008                               
 Total adjustment (rounded)                1,235             1,377              (1,130   )         (1,851   )      (369     )       
                                                                                                                                         
 Total expenses, as previously reported    4,477             21,620             46,049             52,508          124,654          
 Total expenses, restated (rounded)        5,712             22,997             44,919             50,656          124,284          
                                                                                                                                         
                                                                                                                                         
 Net loss, as previously reported          (4,144  )         (19,343  )         (25,131  )         (28,896  )      (77,514  )       
 Net loss, restated (rounded)              (5,379  )         (20,720  )         (24,001  )         (27,045  )      (77,145  )       
                                                                                                                                    


 WISDOMTREE INVESTMENTS, INC.                                                                                                                                                                           
 CONSOLIDATED STATEMENTS OF OPERATIONS                                                                                                                                                                  
 (in thousands, except per share amounts)                                                                                                                                                               
 (Unaudited)                                                                                                                                                                                            
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                       For the Three Months Ended                                                                                      For the Year Ended           
                                                       March 31,                 June 30,                September 30,                December 31,               December 31,                 
                                                             2008                   2008                    2008                       2008                       2008              
                                                       Restated                  Restated                Restated                     Restated                   Restated                     
                                                                                                                                                                                              
 Revenues                                              $     5,421             $    6,249            $      6,183               $      4,221             $        22,074            
                                                                                                                                                                                              
 Expenses:                                                                                                                                                                                    
 Compensation and benefits                                   6,735                  5,163                   5,690                      2,750                      20,338            
 Fund management and administration                          3,523                  3,739                   3,995                      3,910                      15,167            
 Marketing and business development                          3,379                  3,253                   1,501                      989                        9,122             
 Professional fees                                           738                    649                     189                        295                        1,871             
 Occupancy, communication and equipment                      435                    391                     375                        363                        1,564             
 Depreciation and amortization                               75                     84                      88                         90                         337               
 Other                                                       323                    521                     383                        1,030                      2,257             
                                                                                                                                                                                              
 Total expenses                                              15,208                 13,800                  12,221                     9,427                      50,656            
                                                                                                                                                                                              
 Operating loss                                              (9,787  )              (7,551  )               (6,038   )                 (5,206   )                 (28,582  )        
                                                                                                                                                                                              
 Interest and investment income                              573                    352                     367                        245                        1,537             
                                                                                                                                                                                              
 Net loss                                              $     (9,214  )         $    (7,199  )        $      (5,671   )          $      (4,961   )        $        (27,045  )        
                                                                                                                                                                                              
                                                                                                                                                                                              
 Net loss per share - basic and diluted                $     (0.09   )         $    (0.07   )        $      (0.06    )          $      (0.05    )        $        (0.27    )        
                                                                                                                                                                                              
 Weighted average common shares - basic and diluted          99,494                 99,995                  100,444                    100,955                    100,236           
                                                                                                                                                                                    


 WISDOMTREE INVESTMENTS, INC                                                                                                                                                              
 NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS                                                                                                                                           
 (in thousands)                                                                                                                                                                           
 (Unaudited)                                                                                                                                                                              
                                                                                                                                                                                
                                                                                                                                                                                
                                           For the Three Months Ended                                                                                    For the Year Ended           
                                           March 31,                 June 30,                September 30,               December 31,              December 31,                 
                                                 2008                   2008                    2008                      2008                      2008              
                                           Restated                  Restated                Restated                    Restated                  Restated                     
                                                                                                                                                                                
 Revenues                                  $     5,421             $    6,249            $      6,183              $      4,221            $        22,074            
                                                                                                                                                                                
 Operating expenses:                                                                                                                                                            
 Compensation and benefits                       4,499                  3,309                   3,554                     1,030                     12,392            
 Fund management and administration              3,523                  3,739                   3,995                     3,910                     15,167            
 Marketing and business development              3,379                  3,253                   1,501                     989                       9,122             
 Professional fees                               319                    461                     278                       420                       1,478             
 Occupancy, communication and equipment          435                    391                     375                       363                       1,564             
 Other                                           248                    (54     )               366                       490                       1,050             
                                                                                                                                                                                
 Total operating expenses                        12,403                 11,099                  10,069                    7,202                     40,773            
                                                                                                                                                                                
 Operating loss                                  (6,982  )              (4,850  )               (3,886  )                 (2,981  )                 (18,699  )        
                                                                                                                                                                                
 Stock-based compensation                        2,730                  2,617                   2,064                     2,135                     9,546             
 Depreciation and amortization                   75                     84                      88                        90                        337               
 Interest and investment income                  (573    )              (352    )               (367    )                 (245    )                 (1,537   )        
                                                                                                                                                                                
 Net loss                                  $     (9,214  )         $    (7,199  )        $      (5,671  )          $      (4,961  )        $        (27,045  )        
                                                                                                                                                                      


GAAP to Non-GAAP Reconciliation 

In an effort to provide additional information regarding our results as
determined by GAAP, we also disclose certain non-GAAP information which we
believe provides useful and meaningful information. Our management reviews this
non-GAAP financial measurement when evaluating our financial performance and
results of operations; therefore, we believe it is useful to provide information
with respect to these non-GAAP measurements so as to share this perspective of
management. Non-GAAP measurements do not have any standardized meaning and are
therefore unlikely to be comparable to similar measures presented by other
companies. These non-GAAP financial measures should be considered in the context
with our GAAP results. 

We have disclosed our results excluding certain non-operating items. We consider
stock-based compensation, depreciation and amortization and interest and
investment income as non-operating items. Management excludes these costs when
measuring our financial performance as they are non-cash charges or not directly
related to our business of being an index developer and ETF sponsor. As the
company is currently incurring net losses, management focuses on its cash
related expenses of being an index developer and ETF sponsor in measuring the
financial health of its business and making related decisions. However,
stock-based compensation has been and will continue to be for the foreseeable
future, a significant recurring expense in our business and stock-based
compensation is an important part of our employees' compensation and impacts
their performance.

 WISDOMTREE INVESTMENTS, INC.                                                                                                                                                                                          
 CONSOLIDATED STATEMENTS OF OPERATIONS                                                                                                                                                                                 
 GAAP to NON-GAAP RECONCILIATION                                                                                                                                                                                       
 (in thousands)                                                                                                                                                                                                        
 (Unaudited)                                                                                                                                                                                                           
                                                                                                                                                                                                           
                                                                                                                                                                                                           
                                               For the Three Months Ended                                                                                    For the Year Ended                                    
                                               March 31,                 June 30,                September 30,               December 31,              December 31,                  March 31,             
                                                     2008                   2008                    2008                      2008                    2008                       2009          
                                               Restated                  Restated                Restated                    Restated                  Restated                                            
 GAAP expenses as reported                     $     15,208            $    13,800           $      12,221             $      9,427            $      50,656               $     9,928         
                                                                                                                                                                                                           
 Less Stock-Based Compensation included in:                                                                                                                                                                
 Compensation and benefits                           (2,236  )              (1,854  )               (2,136  )                 (1,720  )               (7,946   )                 (2,019  )     
 Professional fees                                   (419    )              (188    )               89                        125                     (393     )                 (73     )     
 Other                                               (75     )              (575    )               (17     )                 (540    )               (1,207   )                 (52     )     
                                                                                                                                                                                                           
 Total stock-based compensation expenses             (2,730  )              (2,617  )               (2,064  )                 (2,135  )               (9,546   )                 (2,144  )     
                                                                                                                                                                                                           
 Less depreciation and amortization                  (75     )              (84     )               (88     )                 (90     )               (337     )                 (90     )     
                                                                                                                                                                                                           
 Proforma operating expenses                   $     12,403            $    11,099           $      10,069             $      7,202            $      40,773               $     7,694         
                                                                                                                                                                                                           
                                                                                                                                                                                                           
                                                                                                                                                                                                           
 GAAP net loss, as reported                    $     (9,214  )         $    (7,199  )        $      (5,671  )          $      (4,961  )        $      (27,045  )           $     (6,011  )     
                                                                                                                                                                                                           
 Add back stock-based compensation                   2,730                  2,617                   2,064                     2,135                   9,546                      2,144         
 Add back depreciation and amortization              75                     84                      88                        90                      337                        90            
 Less interest and investment income                 (573    )              (352    )               (367    )                 (245    )               (1,537   )                 (222    )     
                                                                                                                                                                                                           
 Proforma net loss                             $     (6,982  )         $    (4,850  )        $      (3,886  )          $      (2,981  )        $      (18,699  )           $     (3,999  )     


Forward Looking Statements

Statements in this Press Release regarding WisdomTree Investments, Inc. that are
not historical facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Readers are cautioned not to
place undue reliance on any such forward-looking statements, each of which
speaks only as of the date made. We have no obligation to publicly release the
result of any revisions which may be made to any forward-looking statements to
reflect unanticipated events or circumstances occurring after the date of such
statements. Forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors, some of which are listed below, that
could cause actual results or outcomes to differ materially from any future
results or outcomes expressed or implied by such forward-looking statements. In
assessing the forward-looking statements contained herein, readers are urged to
carefully read the following risks and considerations:

* We have a limited operating history in our investment management business upon
which you may evaluate us and we have experienced significant losses to date. 
* Our ability to become profitable is dependent upon our ability to increase our
assets under management and to control our expenses. 
* Changes in the equity markets have a direct impact on our assets under
management. A downturn in the equity markets can result in a significant
reduction in assets under management, which, in turn, directly reduces our
revenues. 
* The mix of our assets under management could be subject to significant
fluctuations and could adversely affect our revenues. 
* Poor investment performance of our ETFs is likely to lead to a reduction in
our assets under management and a reduction in our revenues. 
* If our reputation is harmed we could suffer losses in revenue. 
* The asset management industry is highly competitive and most of our
competitors are larger companies with greater resources. 
* We rely very heavily on third-party vendors, such as BNY Mellon, Standard &
Poor`s, and Bloomberg, to provide us with services that are very important to
our business. If any of those vendors decided to terminate their relationship
with us, we might experience a disruption in our ability to do business while we
retain an alternative vendor. 
* A failure in our operational systems or infrastructure, or those of the
third-party vendors, could disrupt our operations, damage our reputation, and
reduce our revenues. 
* Our business is subject to extensive regulation, and compliance failures and
changes in regulation could adversely affect us. 
* We depend on key personnel and the loss of such personnel could disrupt our
ability to do develop new product and conduct our business. 
* Our principal stockholders, including our directors and officers, control a
large percentage of our shares of common stock and can control our corporate
actions.

Past performance is no indication of future results.





Media Contact:
Stuart Bell
WisdomTree Investments, Inc.
(917) 267-3702
sbell@wisdomtree.com
or
WisdomTree Investor Contacts:
KCSA Strategic Communications
Jeffrey Goldberger / Todd Fromer
(212) 896-1249 / (212) 896-1215
jgoldberger@kcsa.com / tfromer@kcsa.com

Copyright Business Wire 2009

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