Rose & Sky Launches Flagship Strategy

GEORGE TOWN, Grand Cayman -

- Adds Two Independent Directors to Fund Board

Rose & Sky Investments (Cayman) Ltd. (”Rose & Sky”), today announced that the Rose & Sky Europe Fund (Sedol: B617H22) was launched on 31st August 2009.

Registered with the Cayman Islands Monetary Authority (CIMA), the Fund is listed on the Irish Stock Exchange (ISE) offering Investors both daily liquidity and a daily official net asset value (NAV).

The Fund invests in highly liquid pan-European stocks implementing a proprietary hybrid long/short and market neutral strategy that aims to produce attractive absolute returns with low volatility and low beta correlation to equity markets.

Rose & Sky also announced that two new independent Directors, Michael Baer and Arthur Bolliger have been appointed to the Fund’s board, joining the current Directors, Raiko Dilling of Capital Garant, (Germany) and Manuel Ebner of Rose & Sky Investment (Cayman) Ltd..

Mr. Baer is Founder and Chairman of Baer Capital Partners which has offices in London, Zurich, Dubai and Mumbai. Prior to founding Baer Capital in 2006, he was Head of Private Banking and a Member of the Executive Board at Julius Baer Group, one of the leading Swiss private banks. He has more than 20 years experience in investment banking, trading and private banking and is a graduate of the Sloan School of Management at the Massachusetts Institute of Technology (MIT), where he currently serves on the Dean’s Advisory Council.

Mr. Bolliger currently serves on the Board of Directors of Maerki Baumann Holding AG in Zurich and is also Chairman of the Board of InCore Bank AG Swiss Banking Services. He was previously CEO of Maerki Baumann & Co. AG, Privatbank from 1989 until 2008. During 1987 and 1988, he was the Managing Director and Deputy CEO of BIL Holding (International) AG, Vaduz/Zurich. Between 1973 and 1986, Mr. Bolliger worked for Dow Chemical, the last four years of which he was CEO of Dow Banking Corporation.

The Rose & Sky Group specializes in the development, implementation and management of market neutral investment strategies with a focus on liquidity, daily portfolio transparency and real-time risk management. With offices in Switzerland, Cayman Islands and the USA, the investment companies within the Rose & Sky Group are active members of the Alternative Investment Management Association (AIMA). The Investment Manager is registered with the US Securities & Exchange Commission (SEC) and is a signatory to the Hedge Funds Standards Board (HFSB).

For further information please visit www.rose-sky-investments.com

This announcement does not constitute an offer to sell or a solicitation of an offer to buy interests in the Fund by anyone in any jurisdiction, nor should it be used by others in connection with any sale, offer for sale or solicitation of an offer to buy securities or any other instruments. Any such offer or solicitation may be made only on a private placement basis to persons who satisfy the applicable investor eligibility requirements and by the delivery to a prospective investor of a definitive confidential offering memorandum (”Memorandum”) and other offering documents. It is the responsibility of each prospective investor to satisfy himself or herself as to the full observance of the laws of any relevant state or country, including obtaining any government or other consent which may be required or observing any other formality which needs to be observed in that state and/or country.

An investment in the Fund will entail a number of risks and before investing prospective investors should carefully consider the risks described in the Memorandum. Interests in the Fund will not be registered under the U.S. Securities Act of 1933, as amended and the Fund will not be registered under the Investment Company Act of 1940, as amended. Unless otherwise agreed by the Fund, Interests are not available for purchase by U.S. Persons.

Source: Rose & Sky Investments (Cayman) Ltd.

US, Europe, Stefan Prelog of Walek & Associates, NY, +1-212-590-0523, sprelog at walek.com; or Asia, Sophie Sophaon of Walek & Associates, Hong Kong, +852-2273-5102, ssophaon at walek.com, both for Rose & Sky Investments