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John Lowry, Chairman of ML Capital said “We are delighted that Para Advisors has chosen to partner with ML Capital to launch their UCITS Fund. The UCITS space is still vastly underserved by the leading US hedge fund managers and the launch of the Para International UCITS fund is another illustration of ML Capital’s commitment to bring experienced and talented fund managers with proven track records to the rapidly expanding UCITS investor base.”

Ned Sadaka, President of Para Advisors LLC said “Para is very excited about the upcoming launch of our UCITS fund on the MontLake platform. We believe our longstanding focus on the more liquid event driven situations, both in the equity and distressed debt components of our event driven strategy, make Para particularly suitable to deliver a full and robust event-driven portfolio to investors within the UCITS format.”

UCITS are liquid, transparent and easy to access, and therefore provide an ideal asset allocation tool for investors. The Para International UCITS Fund is targeted to launch on the 1st of July 2011, subject to regulatory approval.

(press release)

About Para Advisors LLC
Para Advisors LLC is a U.S. alternative investment manager whose mission is to extract absolute returns through event driven investments, namely, catalyst-focused investing. Ned Sadaka, Para Advisors’ President founded the firm’s flagship U.S. fund in 1991.

Para Advisors seeks to invest opportunistically in distressed securities, relative value trades, capital structure arbitrage, merger arbitrage, and other special situations consisting of restructurings, recapitalizations, spin-offs, asset sales, as well as long-term valuation plays. Para Advisors’ six-person investment team facilitates research and identification of investments in a broad range of extraordinary corporate events. Para Advisors seeks attractive risk-adjusted returns by pursuing a diversified, risk-controlled, multi-strategy investment approach.

About ML Capital Asset Management
Incorporated in Malta and regulated by the Malta Financial Services Authority, ML Capital is an independent and privately-owned financial services group specialising in advising on and delivering alternative investment solutions and strategies for the investment industry. ML Capital provides a truly global service for its clients from its headquarters in Malta and operations centres in London, Geneva and Dublin.

ML Capital prides itself on delivering exceptional client service premised on a detailed understanding of the needs of its clients matched with a proven track record in providing sound investment advice. Our senior partners have a combined experience of over 70 years in the investment-management industry in key areas incorporating manager due diligence, portfolio management, operations and risk management.

About The MontLake UCITS Platform
The MontLake UCITS Platform, domiciled in Ireland and regulated by the Central Bank of Ireland provides investment managers with a turnkey solution for launching a UCITS fund under its umbrella structure. Typical time to market is 10 weeks, or less, with the platform offering immediate access to a wide range of investors through ML Capital’s extensive 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 Bridge Consulting 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 ML Capital please visit the website www.mlcapital.com or the platform website www.montlakeucits.com.

- FG