ML Capital Announces Launch Manager for the Montlake UCITS Platform

LONDON, September 20, 2010 - ML Capital Asset Management (ML Capital) announced today that the first
manager to launch on the Montlake UCTIS platform will be Clareville Capital
Partners LLP, the firm founded by David Yarrow. The fund will commence
trading on October 1, 2010.

David Yarrow and Angus Donaldson will co-manage a UCITS compliant
derivative of the 13-yea- old Pegasus Fund, which employs a UK Long/Short
equity strategy. Since its inception in 1997, the Pegasus Fund has built up a
strong investment track record.

Commenting on the launch, John Lowry, Chairman of ML Capital said:

"The UCITS revolution allows investors to access managers who can
actively short stocks and hedge a portfolio, however managers with long and
successful experience of running equity hedge funds are in short supply. The
Pegasus fund has been running for over a decade and has always been run in
line with the UCITS principles, which is very comforting to our investors.

"Yarrow and Donaldson's investment style will appeal to a lot of our
investors. Their strong performance in upwardly trending markets and
excellent downside protection in perilous markets is demonstrated by their
track record. This is exactly what the alternative UCITS solution is looking
to provide to investors and is why we believe that Clareville Capital is the
ideal launch manager for the Montlake UCITS platform."

Angus Donaldson added that:

"A UCITS compliant version of the Pegasus fund is a natural next step for
us. Pegasus has always offered investors a high level of liquidity,
transparency and stable returns over a variety of market conditions. We are
delighted that ML Capital have appointed Clareville Capital to be the launch
manager of their new UCITS platform. This is a key launch for our business.

"The past 10 years have illustrated the limitations of traditional "long
only" equity investing. All investors should have the opportunity to protect
themselves from market volatility by investing in regulated hedge funds.
However, many of the managers who have launched alternative UCITS products
have found that they have weak brand awareness outside of the hedge fund
world. This applies not just to smaller boutiques but also some of the very
largest hedge fund houses.

"While there are today a plethora of bank controlled platforms available,
we were looking for a different solution, one with all the clear benefits of
a strong platform with the added key factor of a real and widespread
distribution capability. A link-up with a powerful distributor like ML
Capital was an easy decision for Clareville which is and is likely to remain
a focused boutique sized investment management business."

About ML Capital

ML Capital is an independent and privately owned financial management
company, which specialises in providing a range of alternative investment
solutions for its global client base of institutions, private banks, retail
distribution organisations, wealth management advisors and family offices. ML
Capital provides a truly global service for its clients from its headquarters
in Malta and operations centres in Geneva, London and Dublin.

Our senior partners have a combined experience of over 80 years in the
investment management industry in key areas incorporating manager due
diligence, portfolio management, operations and risk management.

For more information on ML Capital please visit our website
www.mlcapital.com

About Montlake UCITS Platform Plc

The Montlake UCITS platform Plc, domiciled in Ireland and regulated by
the Irish Financial Regulator provides investment managers with a turnkey
solution for launching a UCITS fund under its umbrella structure. Typical
time to market is 6/8 weeks with the platform offering immediate access to a
wide range of investors through ML Capital's distribution network.

Funds placed on the platform by ML Capital will benefit from top tier
service providers including CITI for custody, administration and trustee
services, KPMG for audit and Carne Financial for oversight and directorships.
ML Capital has also ensured that managers utilising the Montlake UCITS
platform will have unfettered access to a network of the leading prime
brokerage firms.

For more information on the platform please
www.mlcapital.com/about-montlake

About Clareville Capital Partners LLP

Clareville Capital is an independent hedge fund manager. It was founded
in 1997 to run the Pegasus Fund which it still runs. The Pegasus fund has
over 230 investors ranging between institutional investors, family offices
and high net worth individuals. The Pegasus Fund aims to provide stable
returns across all market conditions and has provided an annualised compound
return of over 11%.

The partners have over 40 years of investment experience between them and
are well supported by an experienced and diverse board. The Pegasus fund is
one of the longest standing hedge funds in its space and has succeeded in
providing steady returns to its investors over the last 13 years.

Clareville Capital is regulated by the FSA and is a signatory to the
HFSB.

For more information on Clareville Capital please visit our web site
www.clarevillecapital.com

Media enquiries: Robin Dhara, PR, Tel +447-080-7752 Email.
Robin@red-robin.co.uk

Media enquiries: Robin Dhara, PR, Tel +447-080-7752 Email. Robin at red-robin.co.uk; Richard Day, Chief Operating Officer, ML Capital, Tel. +44-20-7024-4685, Email. richard at mlcapital.com; Angus Donaldson, Portfolio Manager & Partner, Clareville Capital, Tel. +44-20-7811-3811, Email. Angus.donaldson at clarevillecapital.com