HedgeOp Compliance, LLC Joins with Chief Compliance Officers to Form the Alternative Investments Compliance Association

New York, New York– November 1, 2006 – HedgeOp Compliance LLC, a leading provider of specialized products and services to the hedge fund community, and Chief Compliance Officers from several prominent alternative investment firms announced today the formation of the Alternative Investments Compliance Association. The new association is dedicated to open communication among industry participants, and fostering the development and sharing of compliance best practices. The new association will also serve as a strong advocate for its members in making sure that regulations are as streamlined and efficient as possible. Membership in the Alternative Investments Compliance Association is open to chief compliance officers, mid-level compliance professionals, hedge fund and fund of hedge fund managers, private equity firms, industry service providers and other senior executives within the alternative investments industries.

“The Alternative Investments Compliance Association is focused exclusively on the unique compliance and regulatory issues applicable to the alternative investments industry,” said William G. Mulligan, Jr., CEO of HedgeOp Compliance. “In this rapidly evolving environment, firms of all sizes can benefit from the development and sharing of formal policies and best practices for handling regulatory compliance and operational issues.”

At the outset, the Alternative Investments Compliance Association will focus on the following:
– The current state of SEC rules and required procedures
– Recent and future legislative compliance and regulatory developments
– Regular “information sharing meetings” with regulators
– Sharing of compliance best practices among industry participants
– The use of technology to address compliance requirements

The founding meeting of the Alternative Investments Compliance Association was held in New York on October 3, 2006 by invitation only at the offices of HedgeOp Compliance. The association was founded by representatives of over 10 alternative investment firms with an aggregate of over $12 billion in assets under management. The Alternative Investments Compliance Association will be holding its next meeting later this year and will be open to wider membership.
Additional information can be obtained by sending an email to: membership@aica-info.com. The Association expects to have an informational website available at www.aica-info.com later this fall.