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Polar Securities to launch Canadian focused, distresses securities hedge fund Polar Securities Inc. (“Polar”), Canada’s most experienced hedge fund advisor, is pleased to announce the launch of “South Pole Capital” (the “Fund”), a diversified, Canadian focused, distressed securities hedge fund. The Fund seeks to deliver absolute returns with low to moderate volatility, primarily through active trading in Canadian securities that are encountering significant financial or business difficulties. The Fund will begin operations on October 1, 2007 and will be initially seeded with close to $US50 million, including a significant portion by the portfolio team. The Fund will begin accepting external subscriptions commencing November 1, 2007.

  The fund’s portfolio team includes: Bob Poile (Lead Portfolio Strategist) who spent 7 years as PM of Canadian Investments for Paloma Partners in Greenwich and Bill Anderson (Portfolio Strategist) who also spent 5 years with Paloma as MD and as President of its offshore hedge fund manager.

     “We believe current market conditions in Canada will continue to generate strong opportunities within the distressed sector. Furthermore, we expect the number of opportunities to accelerate given the recent cycle of debt issuance, historically high asset valuations, deteriorating credit quality and the increasing importance of liquidity in the marketplace. Higher cost structures......................

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