Vienna-based alternative investment management company Salus Alpha has
launched a new fund of hedge funds.

The new Absolute Return S.A. Institutional is now the second fund of hedge
funds managed by Salus Alpha within its Absolute Return S.A. range.

Both funds meet the EU regulations for transparency and provide daily liquidity.
The funds are available to institutional and retail investors in the German-
speaking area of Central Europe.

The funds invest in all alternative investment-strategies and follow a multi
manager-multi strategy investment style.

Two years after seeding the first fund (Salus Alpha Global Fund), Salus Alpha
currently has more than EUR 80 Million under management.

Oliver Prock, managing director of Salus Alpha, said: "We are ready to break the
100 Million barrier. The increase in assets under management at Salus is being
accompanied by accelerating growth of the headcount. Furthermore, Salus Alpha
plans to introduce the products also to other European markets like Spain,
France, UK etc."

Background Note: Salus Alpha, founded in late 2001, is an alternative investment
management company headquartered in Switzerland with subsidiaries in Austria
and the USA. The Salus Alpha investment process is based upon three equally
important criteria: strategy allocation (Top Down), manager allocation (Bottom
Up) and continuous monitoring (Risk Management).