FOR IMMEDIATE RELEASE

    /24-7PressRelease/ - BOULDER, CO, October 10, 2006 - Nyiri & Associates ("NyAA") and Hedge Fund Solutions ("HFS") announced today that they have formed a strategic partnership to improve HFS's equity research and trading program. The partnership will enable HFS to provide enhanced consulting services to companies under threat of attack from activist hedge funds as well as offer event-driven research to companies and investors interested in activist trading.

Damien Park, President and CEO of Hedge Fund Solutions, stated, "Shareholder activism by hedge funds is rapidly becoming a discrete investment style. It's not uncommon to read about a new hedge fund formed for the purpose of investing in special situations such as corporate restructuring, takeovers and asset stripping. These strategies have little or no correlation to equity indices and require a real-time, in-depth understanding of the activists and their targets."

Since 2001, HFS has worked with companies and investors to balance short-term value enhancement opportunities with long-term value improvement initiatives by analyzing specific exposures and misalignments in a company's asset structure and shareholder base, then recommending strategies that maximize overall value with as little friction as possible from either side. The Company's focus on creating value for clients by examining different approaches to practical asset allocation and improved operations matches NyAA's own methodology for IT solutions.

Mr. Park continued, "Nyiri and Associates has demonstrated a strong aptitude for understanding our core research requirements and has been perceptive in translating these into an operating model with the appropriate technical infrastructures we'll need to expand our services and grow our business globally."

"Nyiri & Associates will draw on its expert research and years of technical experience to maximize HFS's value for their clients and themselves," said Tom Nyiri, President and CEO of Nyiri & Associates.

Nyiri & Associates is a Boulder-based technology consulting firm on the cutting edge of IT services. Combining proven technology with the expertise of seasoned media, financial and Internet professionals, Nyiri & Associates works with its customers to provide the leadership and support they need to create and expand their use of technology. Nyiri & Associates' customized services and solutions emphasize the creation of value and opportunity through the strategic application of technology.

About Hedge Fund Solutions, LLC

Based in Philadelphia, PA and Dublin, Ireland, Hedge Fund Solutions provides strategic counsel to companies and investors needing to understand the dynamics and impact of shareholder activism and how to design balanced solutions that create measurable value.


CONTACTS:

Tom Nyiri
President and CEO
Nyiri & Associates
4845 Pearl East Circle, Suite 101
Boulder, CO 80301
(Tel) +1.303.339.0193
Email: [email protected]

Damien J. Park
President and CEO
Hedge Fund Solutions
106 Yeakel Avenue
Erdenheim, PA 19038
(Tel) +1.215.325.0514
Email: [email protected]

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