| 31 January 2001 |  |
| In the Press Today | |
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Credit Lyonnais is investing € 250 Million in Hedge Funds. Credit Lyonnais Asset Management has announced today that they intend to invest € 250 Million in new hedge funds offered by SYSTEIA Capital Management. SYSTEIA Capital Management is a new company set up by Jean-Louis Juchault and David Obert who left BAREP Asset Management in December 2000 . Credit Lyonnais will pay $ 5.6 million for a 78% share of the Company and will offer the new hedge funds to its institutional and private clients. Credit Lyonnais shareholders, such as Banco Bilbao Vizcaya in Spain, Banco Intesa in Italy or Dresdner Bank AG in Germany would have the option to have shares in SYSTEIA to develop their strategies in Alternative Investments. This announcement is following the recent move of the major French Financial institutions into the Alternative Investment area. This is further confirming the trend identified by Asterias in our last study: France – An Update of Alternative Investments: “ Through a network of partnerships and alliances, French Banks have been successful at developing large structures which offer a family of products managed by groups of independent specialised staff”. For additional information , visit our Website: www.asterias.com
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