HedgeCo.net –WASHINGTON, D.C., May 14, 2007 — Managed Funds Association (MFA) said today that the conclusions reached by the Economic and Financial Affairs Council (ECOFIN) on hedge funds, released May 8, 2007, signal a significant agreement among global regulators on the benefits hedge funds bring to the capital markets.

“MFA sees great merit in the recent ECOFIN conclusions which compliment the President’s Working Group and IOSCO perspectives on the significant benefits hedge funds bring to bear on financial market efficiencies and economic stability,” said John G. Gaine, president. “We believe a consistent global approach to hedge fund regulation is prudent, and we welcome the ECOFIN conclusions and look forward our continued participation with regulators around the world.”

Mr. Gaine recently participated in the 32^nd Annual IOSCO conference in Mumbai, India. “Global regulators are studying hedge funds and drawing similar conclusions that indirect regulation, supported by industry vigilance with respect to sound practices and market disciplines, is effective in preventing systemic risk and protecting investors, where such investors are institutions and wealthy individuals, while preserving the entrepreneurial nature of market participants,” said Mr. Gaine.

MFA, headquartered in Washington, DC, is the voice of the global alternative investment industry representing professionals who specialize in hedge funds, funds of funds and managed futures funds. MFA’s over 1,300 members are affiliated with the majority of the 100 largest hedge funds, which manage a significant portion of the over $1.4 trillion invested in hedge funds. Since inception in 1991, MFA has provided industry leadership in government relations, media relations, communications and education to MFA members and investors.

For further information: Meg Bode

MFA Media Relations

516-869-6610