July 27, 2004

Harbert Management Hires Ex-Deutsche FX Research Head

NEW YORK (HedgeWorld.com)--Harbert Management Corp. hired Michael R. Rosenberg as managing director and senior strategist for the firm's global macro strategy.

Mr. Rosenberg will work in Harbert's New York office with John Floyd, senior managing director and portfolio manager for the global macro strategy. Harbert is based in Birmingham, Ala.

Previously, Mr. Rosenberg worked at Deutsche Bank AG, where he was managing director and global head of foreign exchange research. A spokesperson at the bank said no one had been named to take Mr. Rosenberg's position.

Harbert manages US$5 billion in real estate, private equity, venture capital and other alternative strategies.

CClair@HedgeWorld.com

Contact Robert F. Keane with questions or comments at:

bkeane@investmentadvisor.com.

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