Changes to Investment Manager

23 Sep 2005 13:01

T2 Income Fund Limited23 September 2005 T2 Income Fund LimitedChanges to Investment Management Staff T2 Income Fund Limited (the "Company") announced today that Lee Stern, ChiefTransaction Officer of the Company's investment manager, T2 Advisers, LLC,notified the Company of his intention to leave T2 Advisers, LLC prior to the endof 2005. Mr. Stern currently remains a director of T2 Income Fund Limited andthe board of directors of the Company is reviewing Mr. Stern's continuedparticipation on the board in light of his resignation from T2 Advisers, LLC. Inaddition, three other investment professionals of the Company's investmentadviser, Branko Krmpotic, David Grossman and Matt Bass resigned effective 21September 2005 to pursue an opportunity with Mr. Stern. Mr. Stern said, "I expect to remain at T2 Advisers, LLC for a sufficient periodof time to ensure a smooth transition for the firm. It's been a pleasure workingwith the group at T2 Advisers, and I am looking forward to working with themgoing forward as I pursue my new opportunity." T2 Advisers, LLC has commenced an active search to replace the departingprofessionals and expect to begin filling the positions in the near future. Mr.Stern will continue working as Chief Transaction Officer at T2 Advisers, LLC inorder to facilitate a smooth transition as additional personnel are hired toenhance its investment team. The board thanks Mr. Stern for his contributions and hopes to continue itsrelationship with him in his new role. We express our confidence in the seniormanagement of T2 Advisers, LLC. The two most senior officers at T2 Advisers, LLC, Jonathan Cohen (ChiefExecutive Officer) and Saul Rosenthal (President and Chief Operating Officer)expressed their appreciation to Mr. Stern for his historic and continuingservice to T2 Advisers, LLC. This information is provided by RNS The company news service from the London Stock Exchange