Ark Fund Management Ltd.

Ark Fund Management Ltd.
frontierAlt Opportunistic Global Fund

December 16, 2008 17:53 ET

Change of Manager of frontierAlt Opportunistic Global Fund

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2008) -

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES.

Ark Fund Management Ltd. ("Ark") is pleased to announce that the proposed change in trustee and manager of the frontierAlt Opportunistic Global Fund (the "Fund") from frontierAlt Funds Management Limited to Ark has received all necessary unitholder and regulatory approvals and is now complete.

The name of the Fund has been changed to "Ark NorthRoad Global Fund" and the portfolio advisor of the Fund will be changed to NorthRoad Capital Management LLC on or about February 28, 2009, subject to the receipt of all required regulatory approvals. Units of the Fund are now offered for sale to investors pursuant to a simplified prospectus and annual information form dated December 10, 2008, copies of which are available by contacting Ark as indicated below.

Ark Fund Management Ltd. is a Toronto-based fund company that offers mutual fund and hedge fund products to Canadian investors. The firm is focused on delivering high quality investment funds with flexible investment mandates to maximize the diversification benefits to the investment portfolios of its clients.

NorthRoad Capital Management LLC is an employee-owned investment firm that specializes in managing global equity portfolios. The firm adheres to a strict value investment discipline that focuses on high return on equity businesses. Based in New York, NorthRoad was founded in 2002.

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein.

This news release contains certain "forward-looking statements". The statements that are not historical facts contained in this press release are forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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