CRYSTALLINE MANAGEMENT INC.

CRYSTALLINE MANAGEMENT INC.

March 15, 2005 10:31 ET

Crystalline Management Appoints Carl Pelland as Assistant Vice-President


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CRYSTALLINE MANAGEMENT INC.

MARCH 15, 2005 - 10:31 ET

Crystalline Management Appoints Carl Pelland as
Assistant Vice-President

MONTREAL, QUEBEC--(CCNMatthews - March 15, 2005) - Marc Amirault,
President of Crystalline Management Inc., a Montreal-based hedge fund
manager, is pleased to appoint Mr. Carl Pelland, M.Sc., CFA as Assistant
Vice President.

Prior to joining Crystalline, Mr. Pelland worked at the Caisse de Depots
et Placement du Quebec for 8 years as analyst then portfolio manager of
an absolute return fund using international asset class derivatives.
He will act as co-manager of the Sapphire Canadian Macro Fund, to be
launched during the second quarter of this year, under the leadership of
Mr. Martin Roberge, Vice President and Principal Manager.

Mr. Pelland's trading expertise in derivatives and his broad knowledge
of the international stock, bond, currency and commodities markets will
allow the new Sapphire Fund to take full advantage of various
opportunities stemming from worldwide economic trends affecting Canada,
through macro and sectoral strategies.

Founded in 1998, Montreal-based Crystalline Management Inc. offers
institutional and qualified private investors the Amethyst Arbitrage
Fund, a Canadian convertible securities and event driven strategies
absolute return fund. From inception in July 1998 to February 2005,
Amethyst has yielded an annual 11.2% net return with a volatility of
4.7%.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Crystalline Management Inc.
    Jean-Pierre Langevin
    Vice President & Portfolio Manager
    (514) 284-0248, ext. 228
    jplangevin@arbitrage-canada.com