Ark Fund Management Ltd.

Ark Fund Management Ltd.

January 18, 2008 19:03 ET

SciVest Alternative Strategies Becomes Ark Fund Management

New Brand and New Products to Drive Long-Term Growth

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2008) - Peter Shippen, President and CEO of Ark Fund Management (Ark Funds) is pleased to announce the successful launch of Ark Fund Management, a company focused on delivering high quality mutual funds and hedge funds with flexible investment mandates to Canadian investors.

Ark Fund Management was formed through the purchase of SciVest Alternative Strategies, a Canadian hedge fund distribution company that built its reputation offering market neutral equity funds to Canadians. As part of the transaction, Ark has retained Dr. John Schmitz and SciVest Capital Management to advise the existing lineup of SciVest funds.

"We are pleased to have acquired such a high quality fund platform, and have already begun building out our fund lineup with the launch of the Ark Canadian Long-Short Equity Fund in November," said Mr. Shippen.

"We are extremely pleased with the performance of our new Canadian hedge fund and also the remarkable rebound that the SciVest funds have engineered in the fourth quarter of 2007," Shippen added.

Peter Shippen, CFA, has an extensive background in the research and analysis of mutual funds, hedge funds and structured products. Mr. Shippen left the role of Vice President, Fund Research and Product Due Diligence at a bank-owned investment dealer to found Ark.

"We believe in hiring high quality investment managers and giving them the flexibility to make valued-adding portfolio decisions for our clients. In addition to the current hedge funds that we offer, we are excited to announce the launch of a new family of corporate class mutual funds in the upcoming week", said Shippen.

For more information on Ark Fund Management please visit www.arkfunds.ca.

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