Hedge Fund Patrol Limited Transfer of IP Agreement

Media Release 001/05
Auckland, Monday 17 January 2005

Hedge Fund start-up company Hedge Fund Patrol Limited 'HFP'announces that it has today entered into a " Transfer of IP" agreement with its founder, internet publisher Mr Stephen Matthews.

Mr Matthews has agreed to transfer to HFP his interests in the HFP intellectual property which includes Australian Trade Mark applications ' hedgefundpatrol' and 'hfp'. The web-site www.hedgefundpatrol.com and associated technology* have also been sold. The appraisal report for the transaction notes that there are over 500 graphical images on the HFP web-site which has required to date 1.9million lines of computer code. The HFP data-base contains data on 1,623 hedge funds .

The current system features 3 integrated ‘micro-systems’ each specifically designed to accommodate the needs of the intended user audiences: Hedge Funds, investment community and HFP staff. The core system providers were Sydney based web- developer mr Dan McGinness and graphics designer,mr James Shah .

HFP intends to offer to retail investors across the globe the opportunity to invest in their own fund-of-hedge-funds 'FOHF' .

Purchase consideration is an allotment of 800,000 HFP ordinary shares plus NZ$25,000 cash.

*The system has been written using the Microsoft .NET framework using languages such as VB.NET, XML, C#, Javascript, SQL, HTML and CSS.The code was developed using Microsoft Visual Studio .NET and Macromedia Dreamweaver MX.

for more information go to:

http://hfp.dmc.net.au

About HFP: Hedge Fund Patrol Limited is a start-up company incorporated in New Zealand in October 2004. It is researching the feasibility of launching a global brand in the retail hedge fund industry through investment in a fund-of-hedge-funds 'FOHF'. Assets under management in the global hedge fund industry are estimated at US$934bn at Dec 2004 and are forecast to grow to US$4trillion by 2010 [ source:www.hennessegroup.com]. HFP intends to make its first FOHF offering to Australian investors through the issue of HFP redeemable preference shares in mid 2005.

About Stephen Matthews : HFP founder Stephen Matthews is an investment professional with a 30 year exposure as an investor and trader. He was for a period the most active trader of the gold futures contract on the Sydney Futures Exchange after its introduction in 1976 . He later worked as a treasury dealer at investment bank Schroders and as an institutional stockbroking adviser. In 1985 he formed ASX listed investment company Rocado. In 1998 he launched what became Australia's most authoritative stockmarket chatroom " The Chimes" which was closed due to ASIC intervention in 2001. His exposure to hedge funds dates from early in 2000 when he elaborated ' the Matthews Plan' to Australian re-insurance company Reac. This was a plan to short sell A$100m in international 'TMT'( telecom, media, technology )stocks in joint venture with a US 'short bias' hedge fund.

ENDS

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