NEWS - 6

Salus Alpha Equity Hedged returned 2.57% for the month to date

14/06/2011

The salus alpha equity hedged had a performance of +2.57% for the month to date, outperforming the s&p 500 index by +3.92%. The 12 month rolling alpha of salus alpha equity hedged to the s&p500 is 9% p.a., the 12 month rolling beta is currently -0.1. This implies that in the past 12 months, the fund had a return of 9% due to active management (alpha). The fund outperformed the hfrx equity hedge index by 5.39%.

The salus alpha equity hedged currently has a 40% exposure to long bias, 23% to market neutral, 7% to long short variable bias, and 30% to short bias.

The salus alpha commodity arbitrage had a performance of +1.13% for the month to date, outperforming the s&p 500 index by +2.48%. The fund outperformed the dow jones ubs commodity index by 6.19% during the reporting period, which lost -5.06%, and it outperformed the s&p gsci index by 7.92%, which booked a loss of -6.79% in the reporting period. The performance of salus alpha commodity arbitrage was 3.60% better than the performance of hfrx systematic diversified index.

Salus alpha commodity arbitrage tracks the cax - commodity arbitrage index. The cax index covers the performance of arbitrage strategies, which aim to extract consistent market neutral returns from valuation inefficiencies arising among related commodities - like for example brent crude vs. Wti light sweet crude - or among different maturities of futures contracts on one commodity due to contango, backwardation and seasonality.

Contango denotes a market situation where longer-dated commodity futures are priced higher than shorter-dated commodity futures. Markets in contango are characterised by low demand relative to available supply. In these markets, investors holding a long position suffer a roll loss when selling expiring contracts at low prices, and buying new contracts as higher prices. The cax index currently has a 10.00% spread position in wheat, which is currently 46.62% p.a. Contangoed.

The salus alpha event driven had a performance of +0.54% for the month to date, outperforming the s&p 500 index by +1.89%. The 12 month rolling alpha of salus alpha event driven to the s&p500 is 5% p.a., the 12 month rolling beta is currently -0.1. This implies that in the past 12 months, the fund had a return of 5% due to active management (alpha). The fund's performance for the period was 1.07% higher than the performance of the hfrx event driven index.

The salus alpha real estate had a performance of -0.43% for the month to date. Salus alpha real estate is a single manager single strategy fund, which invests according to salus alpha’s proprietary global real estate model.

The current volatility in the real estate markets is above the model’s risk threshold. The fund therefore has no allocation to equities and is invested exclusively in risk neutral assets.

Salus alpha real estate has been awarded a 5 star rating by www.fondsprofessionell.de for its exceptional performance since inception on 21 january 2008. The fund outperformed the epra/nareit real estate index by +11.23% in this time span.

The salus alpha rn special situations had a performance of +2.47% for the year to date until 5/31/2011.

The sa fx strategies had a performance of -2.17% for the month to date. The performance of sa fx strategies was 0.30% better than the performance of hfrx macro index. The product outperformed the industry benchmark barclay btop fx index by 0.34%. The index had a return of -2.51%.

The fx managers in the sa fx strategies portfolio profited by the usd's weakness vs. Russian rouble, norwegian krone, canadian dollar, australian dollar, swedish krone, british pound, swiss franc, singapore dollar, mexican peso, polish zloty and brazilian real. The managers incurred losses due to the dollar's strength vs. New zealand dollar, and due to the usd devaluation vs. Euro, japanese yen and danish krone.

The salus alpha multi style had a performance of +4.00% for the year to date until 5/31/2011. The fund's performance was 4.42% above the performance of hfrx global index for the period.

The salus alpha managed futures had a performance of +6.56% for the year to date until 5/31/2011. The fund's performance was 6.18% better than the performance of the hfrx macro index for the period.

The ctas, global macro and fx managers in the salus alpha managed futures portfolio profited by continuing trends in soft’s.

The salus alpha directional markets had a performance of -1.18% for the year to date until 5/31/2011. The performance of salus alpha directional markets was 2.13% better than the performance of hfrx systematic diversified index.

NEWS - 5

Salus Alpha Helps to Make Sean Penn's Charity Dinner During the Cannes Film Festival a Success

VIENNA, Austria, May 20, 2011 /PRNewswire/ -- Salus Alpha, a leading fund manager in alternative investments, sets a focus. Salus Alpha connects the world's biggest film festival with charity and takes the chance to make stars aware of a "different world" a world besides the shine & glamour.

As one of the main hosts of the charity dinner "Sean Penn & Friends" on the 18th May 2011, Salus Alphadonated in favor of Sean Penn's charity organization J/P HRO. This event took place in the Carlton Hotel inCannes and attracted high-profile stars. Guests like Uma Thurman, Jane Fonda, Faye Dunaway, Naomi Campbell, Robert de Niro & Leonardo DiCaprio made the evening unforgettable and contributed significantly to the success of this charity dinner.

The main initiators of the evening, who generously supported Sean Penn's charity project, were Oliver Prockfrom Salus Alpha, Jaka Bizilj from Cinema for Peace, Ella Krasner, Roberta Armani and Maybach.

During the evening Mr. Sean Penn held an emotive speech, pointing to Haiti's ongoing catastrophic conditions at the same time providing the guests with first positive results of the reconstruction efforts.

"This is a project that needs everyone's aid. We will try to support J/P HRO in the future, and pass on to it our success - capital needs a conscience," said Mr. Oliver Prock, Salus Alpha's CEO.

Additional photos: http://www.salusalpha.com/Images/presskit/cannes2011.zip

NEWS - 4

All Salus Alpha funds record positive returns in April

By wendy chothia, 11 May 2011

All Salus Alpha funds recorded positive returns in April with the Salus Alpha Managed Futures fund leading the way with performance of +7.04% for the month, outperforming the S&P 500 Index by +4.19%.

The fund's performance was also 6.07% better than the performance of the HFRX Macro Index for the period.

The CTAs, Global Macro and FX Managers in the Salus Alpha Managed Futures portfolio profited by continuing trends in Softs, Precious Metals, Industrial Metals, Financials, FX, Energy and Interest Rates.

The Salus Alpha Multi Style had a performance of +4.83% for the month to date, outperforming the S&P 500 Index by +1.98%. The 12 month rolling alpha of Salus Alpha Multi Style to the S&P500 is 4% pa, the 12 month rolling beta is currently 0.1. This implies that in the past 12 months, the fund had a return of approximately 4% due to active management (alpha), and 0.11% return due to the positive market beta. The fund's performance was 4.29% above the performance of HFRX Global Index for the period.

The Salus Alpha Equity Hedged had a performance of +2.52% for the month to date. The 12 month rolling alpha of Salus Alpha Equity Hedged to the S&P500 is 4% p.a., the 12 month rolling beta is currently -0.1. This implies that in the past 12 months, the fund had a return of 4% due to active management (alpha). The Fund outperformed the HFRX Equity Hedge Index by 2.72%.

The Salus Alpha Equity Hedged currently has a 35% exposure to Long Bias, 10% to Market Neutral, 13% to Long Short Variable Bias, and 43% to Short Bias.

The Salus Alpha Commodity Arbitrage had a performance of +2.36% for the month to date.

Salus Alpha Commodity Arbitrage tracks the CAX - Commodity Arbitrage Index. The CAX Index covers the performance of arbitrage strategies, which aim to extract consistent market neutral returns from valuation inefficiencies arising among related commodities - like for example Brent Crude vs. WTI Light Sweet Crude - or among different maturities of futures contracts on one commodity due to Contango, Backwardation and Seasonality.

Contango denotes a market situation where longer-dated commodity futures are priced higher than shorter-dated commodity futures. Markets in contango are characterised by low demand relative to available supply. In these markets, investors holding a long position suffer a roll loss when selling expiring contracts at low prices, and buying new contracts as higher prices. The CAX Index currently has a 10.00% spread position in Wheat, which is currently 32.53% pa contangoed.

The Salus Alpha Directional Markets had a performance of +1.78% for the month to date. The 12 month rolling alpha of Salus Alpha Directional Markets to the S&P500 is 6% p.a., the 12 month rolling beta is currently 0.1. This implies that in the past 12 months, the Salus Alpha Directional Markets had a return of approximately 6% due to active management (alpha), and 0.07% return due to the positive market beta.

The Salus Alpha Event Driven had a performance of +1.18% for the month to date. The 24 month rolling alpha of Salus Alpha Event Driven to the S&P500 is 3% p.a., the 24 month rolling beta is currently 0.0. This implies that in the past 24 months, the fund had a return of 3% due to active management (alpha). The fund's performance for the period was 0.31% higher than the performance of the HFRX Event Driven Index.

The Salus Alpha RN Special Situations had a performance of +1.00% for the month to date.

The SA FX Strategies had a performance of +0.77% for the month to date. SA FX Strategies outperformed the FTSE Hedge CTA/Managed Futures Index by 0.76% in the reporting period. The product's result surpassed the result of the Dow Jones/Credit Suisse AllHedge Managed Futures Index by 0.47%, which had a return of 0.30%. The product outperformed the industry benchmark Barclay BTOP FX Index by 0.68%. The index had a return of 0.09%.

The FX Managers in the SA FX Strategies Portfolio profited by the USD's weakness vs Russian Rouble, Norwegian Krone, Canadian Dollar, Australian Dollar, Swedish Krone, British Pound, Swiss Franc, Singapore Dollar, Mexican Peso, Polish Zloty and Brazilian Real.

The Salus Alpha Real Estate had a performance of +0.40% for the month to date. Salus Alpha Real Estate is a single manager single strategy fund, which invests according to Salus Alpha’s proprietary Global Real Estate Model.

The fund currently has an exposure of 29% to the Real Estate markets.

NEWS - 3

Salus Alpha well placed to benefit from UCITS III popularity

By wendy chothia, 07 April 2011

Investors are anticipating that UCITS III funds will receive more than USD185bn in inflows over the next year, according to a recent survey by Deutsche Bank. Having had a UCITS III Long/SHort equity fund available since 2007, plus several new UCITS III hedge fund strategies in the pipeline, Salus Alpha is well placed to benefit from what could be a doubling in size of the sector over the next year.

“We started the wave of UCITS III hedge funds since we have been the first one to launch a UCITS III Long/Short Equity fund in 2007. When lobbying towards CESR (now ESMA) to expand the eligible asset directive to include hedge fund indices and hedge fund strategy indices we had no idea what we triggered”, says Oliver Prock, CEO of Salus Alpha.

"This year we will strengthen our world leader status by extending our product range with several new UCITS III hedge funds strategies, i.e. Fixed Income Arbitrage, Credit Arbitrage, Long/Short Emerging Market and Alpha Replication which brings us to a total of 12 UCITS III hedge funds of which 8 are in-house managed Single Manager Products. Our business strategy i.e. to offer all hedge fund strategies in a UCITS III format with daily liquidity confirms investor’s demand.

"Non-European investors now view UCITS III as a high quality global brand, and UCITS funds are increasingly seeing interest from investors in Hong Kong, Singapore, Dubai, US and other emerging markets. Salus Alpha is also well positioned to promote UCITS funds outside Europe through in-house distribution capabilities but is also looking actively for distribution partners globally."

NEWS - 2

Bob Geldof guest at Vienna Opera Ball

The musicians and two times Nobel Peace Prize-nominated human rights activist Bob Geldof will attend the Vienna Opera Ball.

Vienna - In front of the Opera Ball will Bob Geldof Chancellor Faymann (S) will meet, communicated the supervisors of the Promi visit. The Britisher is accompanied of the Egyptian actor Khaled Nabawy, which engages itself for the revolution in its homeland.

The artist and volume Aid initiator come on invitation of Olive Prock, CEO of the Investment Company Salus Alpha. Also with its forthcoming Vienna visit wants it is request - assistance for humans in developing countries - in consciousness to move. Behind it the network stands of Daniela Tröster and Karl Pumper of power OF Hope. The platform had brought only recently Hollywoodstar Sean Penn to Vienna, who had recruited for its Haiti aid project.

Bob Geldof is expected Wednesday evening in Vienna. Thursday afternoon is to come he on invitation Faymanns into the Office of the Federal Chancellor. Afterwards o'clock a dinner in the small circle takes place at 18.30. At the red carpet before the state opera the musician is expected at 21.00 o'clock, of where he will go into the Opernball Loge of Salus Alpha.

Geldof was main initiator of the project volume Aid and the world-wide Benefiz concerts Live Aid 1985, volume Aid II and volume Aid 20 in the years 1989 and 2004 in favor of that being hungry population of Africa. Since center of the 1990er years exerts itself it with Bono of U2 for the debt forgiveness for the third world. 2005 it organized the Live-8-Konzert. Because of its humanitarian commitment he was already seen again suggested to 2006 into the 1980er years as a candidate for the Nobel peace prize and for it. (APA)