Hedge Fund Focus

Mooring Intrepid Opportunity Fund Gains 222.8% at Two-Year Mark

Fund Posts 21.7% Increase YTD on Continued Deterioration in Commercial Real Estate, Corporate and Consumer Debt Markets

VIENNA, Va., March 31 /PRNewswire/ — Mooring Financial Corporation today reported performance results for Mooring Intrepid Opportunity Fund, L.P., an alternative assets investment vehicle. The Fund delivered a net gain to investors of 222.8% for the two-year period from inception March 1, 2007, through February 28, 2009. Year-to-date through February 28, 2009, Mooring Intrepid Opportunity Fund showed a net gain of 21.7%.

For the same two-year period the S&P 500 Index realized a net loss of (45.4)% and the Credit Suisse/Tremont Hedge Fund Index showed a net loss of (10.6)%. Year-to-date, the BarclayHedge Index, which tracks 2,394 hedge funds, was down (1.6)%. A record 1,471 hedge funds closed down in 2008 according to HedgeFundResearch.

Mooring Intrepid Opportunity Fund, L.P. was founded in February 2007 and invests using multiple strategies, starting with a disciplined top-down macroeconomic outlook. The Fund’s managers then target favorable sectors for long and short positions, and perform bottom-up analysis of individual investments within those sectors.

Commenting on the results, Mooring Financial Corporation Founder and President John Jacquemin said, “The investment roadmap we originally laid out in 2006 has not fundamentally changed. We formed Mooring Intrepid Opportunity Fund to capitalize on substantial corrections we expected to take place in the financial and real estate markets. The unsustainable levels of spending, debt, speculation and other factors have led to the current economic crisis. This was a party that had to end badly.”

Jacquemin asserts the economy is at least one, and probably two years away from the start of a recovery. “We expect to see further economic deterioration and continue to hold primarily short equity and credit derivative positions in sectors likely to weaken further.”

“If we are right with our investment roadmap, investors should continue to be rewarded. That being said, it’s important to note that our Fund’s positions are highly volatile and therefore not appropriate for all investors.”

About Mooring Financial Corporation

Mooring Financial Corporation is a private investment firm that specializes in the management of alternative assets for high net worth individuals and institutional investors. The firm has acquired and managed more than $2 billion of financial assets since inception in 1982. Mooring Financial Corporation manages four funds across different asset classes, including distressed commercial loans, real estate tax liens, publicly traded equities and credit derivatives. The firm also directs Mooring Tax Asset Group, one of the largest tax lien investors and servicers in the United States. Mooring Financial Corporation is headquartered in Tysons Corner, Virginia. For more information please visit www.mooringfinancial.com.

Certain information discussed in this press release may constitute forward-looking statements. Although the firm believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.