MAIL.L Regulatory News (MAIL)

20 Sep 2006 07:00

Man Alternative Investments Ld19 September 2006 Man Alternative Investments Limited (the "Company") The attention of investors is drawn to the notice issued 18th September 2006 byAmaranth Advisors L.L.C., one of whose hedge funds is held within the Company'sportfolio and constituted 2.35% of the Company's net assets as at 31 August2006. The notice read as follows: "Last week, the Amaranth multi-strategy funds experienced significant losses intheir energy-related investments following a dramatic move in natural gasprices. In an effort to preserve investor capital, we have taken a number ofsteps, including aggressively reducing our natural gas exposure. As of this writing, we anticipate our year-to-date losses might be in excess of35% as we near completion of the disposition of our natural gas exposure. We have met every margin call to date. We are in discussions with our primebrokers and other counterparties and are working to protect our investors whilemeeting the obligations of our creditors. We will report to you frequently as soon as we have further significantinformation." As at 31st August 2006 the Company has recorded a calendar year to dateperformance of 5.93%. On the basis of losses of 35% as set out in Amaranth'snotice above, it is estimated that the Company's calendar year-to-dateperformance would be reduced by 1.44% as at 18 September 2006 (not taking intoaccount any change in the net asset value of the other constituents of theCompany's portfolio since 31 August 2006). However it is not possible at thisstage to calculate precisely the effect which the losses sustained by Amaranthwill have upon the Company's net asset value going forward. Further announcements will be made in due course as and when additionalinformation is made available to the Company. This information is provided by RNS The company news service from the London Stock Exchange