PlusFunds.com Announces Exclusive Ground Breaking BSX Joint Venture

New York NY & Bermuda -December 21, 1999: PlusFunds.com today announced an exclusive joint venture with the Bermuda Stock Exchange (BSX), which will enable, for the first time, hedge funds to be securitized and easily traded. Hedge fund shares registered, cleared and settled in Euroclear and Cedel will be listed on the BSX in a electronic market called Global FundTrader Plus,Ô a joint venture 50% owned by PlusFunds.com and 50% owned by the BSX, which will be open 22 hours a day, 6 days a week. The Global FundTrader PlusÔ will be the exclusive and only electronic trading market on the BSX for all hedge fund shares with real time, tick by tick NAV's and daily third-party risk analysis. Notes Christopher Sugrue, CEO of PlusFunds.com, "Our joint venture with the BSX takes a giant step towards bringing the hedge fund marketplace to maturity. A worldwide audience of accredited investors will have access to easily tradable hedge fund shares. As a result of the transparency, real time NAV's and daily risk analysis we are providing, accredited investors will be able to easily evaluate, monitor and invest in hedge funds on the PlusFunds.com platform in an efficient, timely and cost effective manner." Additional liquidity will be provided for PlusFunds.com listed funds through the participation of independent, secondary market makers.

Hedge Fund Shares on BSX A Natural Development For Both Parties

The Bermuda Stock Exchange, which is regulated by the Bermuda Monetary Authority is a full member of the International Federation of Stock Exchanges and is recognized by the US Securities and Exchange Commission as a Designated Offshore Securities Market. This exclusive arrangement between PlusFunds and the BSX is a natural step for both parties. It is one of the key components in PlusFunds.com's strategy to restructure the hedge fund marketplace by providing the structural and legal integrity of a regulated exchange for the listing and trading of securitized hedge fund shares. Additionally, it is a fulfillment of the BSX's strategic plan to help develop the infrastructure to address the transparency and liquidity needs of the alternative investment industry.

William Woods, CEO of the BSX stated "We are extremely honored to have been selected by PlusFunds.com, which is such a dynamic and innovative player, as their exclusive joint venture partner for this new market. The BSX will provide the fully electronic trading platform and will regulate the trading in this Global FundTrader PlusÔ market place."

PlusFunds.com, an Advanced Secondary Market Provider

With Unique Industry-Transforming Capabilities

PlusFunds.com differs from other secondary market providers and hedge fund web sites in a number of significant ways. While other sites provide hedge fund manager generated, €˜dated' information such as trailing month-end NAV's 12 times per year to market participants, PlusFunds.com is the only internet-based electronic marketplace to provide independently generated real time tick by tick NAV's on a continuous, second by second basis, along with third party risk analysis for its listed funds. Also unique to PlusFunds.com, Standard & Poor's generates daily risk profiles for hedge funds listed on the Global FundTrader PlusÔ. PlusFunds.com also securitizes its listed funds, thereby creating easily tradable shares. These features make PlusFunds.com significantly different from the present cluster of hedge fund information providers that offer crossing and settlement services, which, with respect to hedge funds, is still an onerous process, requiring a fund managers' approval for each deal. Additionally, lacking a uniform legal and structural framework, each transaction is costly and time consuming. In contrast, PlusFunds.com's standardization, securitization and listing on the BSX addresses the inherent obstacles to liquidity in the hedge fund industry. PlusFunds.com believes the combination of advances offered by its exclusive joint venture with the BSX has the ability to significantly grow the hedge fund marketplace.