Redwood Asset Management Inc.

Redwood Asset Management Inc.

October 16, 2006 10:30 ET

Redwood Asset Management Launches The Redwood Long/Short Fund

TORONTO, ONTARIO--(CCNMatthews - Oct. 16, 2006) - Redwood Asset Management is pleased to announce the Launch of the Redwood Long/Short Fund (RAM103). The fund will be managed by Andrew McCreath, President and CEO of Waterfall Investments Inc. Mr. McCreath is a highly respected investment professional in Canada with over 21 years in the investment industry. Prior to starting Waterfall, he was a founder of Synergy Asset Management where he managed the flagship Synergy Canadian Growth Fund, achieving a top quartile ranking. Synergy was acquired by CI Funds in 2003. Andrew has extensive experience within the brokerage community and the investment management business, having worked at Lawrence and Company, Gordon Capital and Burns Fry Ltd. Currently, Mr. McCreath manages the Redwood Long/Short Conservative Fund (RAM104) and has returned 8.64% year to date.

Mr. McCreath holds the Chartered Financial Analyst designation and is a licensed portfolio manager. He has an Honors BBA (Finance) and MBA (Economics) from York University.

Managed by Redwood Asset Management Inc., the Redwood Long/Short Fund (RAM103) is only offered to accredited investors and to investors purchasing a minimum of $150,000 worth of units. Waterfall Investments Inc., an investment management company based in Toronto, Ontario, serves as the investment advisor for the Fund. The Fund's investment objective is to maximize absolute returns on investments. To meet the Fund's investment objective, investments in equity, debt and other securities of issuers primarily in North America will be considered. The Fund also considers preservation of capital a key tenet in its investment philosophy.

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