August 9, 2004

CMA Adds to Research Team

NEW YORK (HedgeWorld.com)--Moving to its new offices in New York, Capital Management Advisors North America Inc. has hired two new analysts growing its research staff to five.

Andrew Steinvurzel and Celicia Chaung joined the firm. Mr. Steinvurzel will become the head of operational due diligence and will be working with Karl Morawski (see ) and Matias Ringel, who are both research directors. Ms. Chaung will be a junior analyst.

Mr. Steinvurzel was an independent consultant on U.S. law for Spanish law firms before joining CMA, while Ms. Chaung was completing her international economics degree at Brandeis University. Ms. Chaung's hire was the result of an extensive CMA recruitment campaign across East Coast colleges.

Angelos Metaxa, co-founder of CMA Group, said in a statement that company officials are delivering on a promise to build a strong U.S. research team in order to perform excellent analysis and manager due diligence for clients.

Based in Geneva, the firm currently manages US$1.2 billion in institutional and private client assets.

SBarreto@HedgeWorld.com

Contact Robert F. Keane with questions or comments at: bkeane@investmentadvisor.com.

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