WASHINGTON, D.C., March 21, 2006 — Managed Funds Association (MFA) announced today that it has hired Robert J. Conant as vice president, business development, a new position, based in New York. His appointment is effective immediately. Mr. Conant joins MFA from Seward & Kissel LLP, New York, where he was an attorney in the firm’s hedge fund practice. MFA is the primary trade association of the hedge fund industry.

At MFA, Mr. Conant is responsible for all aspects of planning, directing and administering the Association’s Member recruitment and retention programs. In this role, he will provide important outreach to new members and serves as liaison to MFA Members to increase the breadth of MFA’s initiatives and advocacy on behalf of the alternative investment industry.

“We are extremely pleased to welcome Rob as MFA’s first vice president of business development,” said John G. Gaine, MFA President. “Rob worked for the Association before attending law school, and has been an active member. In light of his unique knowledge, background and skill set, we are confident that he will be an important asset to MFA’s continued growth and development.”

As an associate at Seward & Kissel, Mr. Conant represented and advised clients in the formation, distribution and operation of domestic and offshore hedge funds, feeder funds and funds-of funds pursuant to U.S. federal and state securities and commodities law. Prior to joining Seward & Kissel in 2004, he held a similar position at Dechert LLP in Washington, DC, beginning in May, 2001.

Mr. Conant was a legal intern at MFA while attending law school and, prior to that, worked full-time at the Association for two years. During that time, he assisted in legal and regulatory affairs and was integrally involved in membership services and marketing communications.

Mr. Conant earned his JD from Georgetown University Law Center and an AB in Psychology from Georgetown University.