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Everest Capital Funds Announce Change of Administrator

03 3 2003

Hamilton, Bermuda: 3 February 2003 - The Bermuda Stock Exchange (BSX) has today announced that Everest Capital International Limited and Everest Capital Frontier Limited have appointed Citco Fund Services (Bermuda) Limited as administrator effective 31 December 2002 replacing The Bank of Bermuda.

Coincident with this appointment, Mr. Ian Pilgrim of Citco Fund Services (Bermuda) Limited has been named as a Director and the Corporate Secretary for the Funds, replacing Mr. David T. Smith and Ms Lynniece Robinson, respectively.

Malcolm Stott, Chief Operating Officer for Everest Capital Limited said "We are looking forward to working with the world's leading fund administrator for hedge funds and particularly benefiting from their recently unveiled straight through, front to back technology solution."