Forum Fund Services Tops Global Custodian Client Survey For Bermuda Service Providers

Portland, Maine: June 17, 2003 - Forum Fund Services has once again earned top honors in the eighth annual Hedge Fund Administration Survey conducted by Global Custodian magazine. Forum is the only Bermuda service provider to be awarded the "Best in Class" designation, and has led the overall client satisfaction category for Bermuda service providers for three consecutive years.

The Survey calls particular attention to the underlying strength of Forum's professional staff as key to the delivery of its superior service. "Forum Fund Services sweeps into top-rated territory in Bermuda, due in no small part to the staff. €¦[R]espondents repeatedly say that its €˜greatest asset is its people'. Staffers are timely, responsive, and always communicating with clients€”vital characteristics to an administrator that readily welcomes start-ups into its fold. A near non-existent level of staff turnover is another welcome attribute, and one that has wreaked havoc with other administrators' scores."

The Survey goes on to praise Forum as the unquestioned standard setter for Bermuda service providers. "Forum exhibits €˜consistently high standards of efficiency and enthusiasm' as noted by one respondent, and is clearly supported by scores. Such traits are precisely what has allowed Forum to make an impact €¦ and certainly has set the level to which other administrators will have to climb in order to compete€”once again, it boasts the highest overall score in Bermuda."

Ede Conyers, General Manager of Forum Fund Services, commented, "Naturally, all of us at Forum are pleased to have received the survey's highest Bermuda rating for the third straight year, but we are especially gratified that our efforts have been recognized by our most important critics€”our clients."