ISPartners Alternative Risk Advisors Licenses RMS® Catastrophe Modeling Software

Newark, Calif. – March 30, 2006 – Risk Management Solutions (RMS), the world’s leading provider of products and services for the management of catastrophe risk, announced today that ISPartners Alternative Risk Advisors has licensed the RiskLink® catastrophe modeling software for use in evaluating and managing ISPartners’ portfolio of insurance-linked securities. This agreement is the latest development in RMS' servicing of the investment community, further highlighting the rapidly growing importance of catastrophe-modeling in the assessment of alternative investments such as Insurance Linked Securities (ILS).

“Licensing RMS catastrophe models and collaborating with RMS experts is an important component of quantifying and managing the risk represented by our investment-portfolio", said Stefan Mueller, managing partner of ISPartners Alternative Risk Advisors. "We look forward to working with RMS experts as our fund continues to grow and we constantly evaluate new investment opportunities.”

Tibor Winkler, director of risk markets at RMS added, “Servicing the alternative risk markets continues to be an exciting and rapidly growing area for RMS and we are delighted to be working with ISPartners Alternative Risk Advisors. Sustainable development of a portfolio of alternative, insurance-linked natural and man-made catastrophe risk finance solutions requires that underwriting and portfolio management are carried out on the basis of quantitative risk assessment. Therefore, licensing catastrophe models to investment funds like ISPartners Alternative Risk Advisors is viewed as increasingly important and a natural extension of RMS business.”

About ISPartners Alternative Risk Advisors

ISPartners Alternative Risk Advisors AG is an alternative investment advisory company founded and managed by Stefan Mueller and Karsten Bromann. The company advises the ISP Event Linked Securities Fund Limited, a Bermuda based investment fund set up as a segregated account company. ISPartners Alternative Risk Advisors seeks to provide investors with capital appreciation, low volatility and low correlation to traditional and non-traditional asset classes by investing in assets which carry exposure to insurance event risks, in particular catastrophe bonds, industry loss warranties or reinsurance contracts. For more information, visit the ISPartners website at www.ispartners.ch.