Charlotte, NC, October 7, 2008 – Pinnacle Fund Administration LLC (“Pinnacle”), a provider of full service fund administration services to onshore and offshore alternative investment vehicles, today announces that it has successfully completed an American Institute Certified Public Accounts (AICPA) Statement on Auditing Standard (SAS) 70, Service Organizations, as amended, Type I examination of its Charlotte based fund administration services.

A SAS 70 examination is a nationally recognized reporting standard that signifies Pinnacle has conducted an in-depth, third party assessment of its design of the internal control objectives and activities.  The extent of service offerings covered in the examination include the control environment, information technology, investor transactions, fund accounting, net asset value calculations, investor reporting, treasury and cash management services and financial statement preparation and reporting.

“The completion of this examination confirms Pinnacle’s commitment to providing the highest quality service to our clients and their investors” says John Kelly, Managing Member of Pinnacle.  “This is the first step in our ultimate goal of completing a SAS 70 Type II examination in which we will test the effectiveness of our internal control system for our administration services, in an effort to provide assurance that we have a comprehensive set of procedures and controls in place that are being rigorously followed and have been designed to maximize timeliness and quality of service to our clients, whilst at the same time minimizing the potential for error.”

The examination was performed by Rothstein Kass & Company, one of the industry’s leading accounting firms, with a practice area dedicated to SAS 70 engagements.  The examination report was issued in accordance with the American Institute of Certified Public Accountants Statement on Auditing Standards (“SAS”) No. 70, Service Organizations, as amended.

About Pinnacle Fund Administration LLC

Pinnacle Fund Administration LLC, based in Charlotte, North Carolina with offices in Hamilton, Bermuda and Sydney, Australia is an independent and privately owned full service administration company that provides quality service to onshore and offshore alternative investment vehicles, including hedge funds, fund of funds and private equity funds, irrespective of size or strategy. Hallmarks of Pinnacle’s service include attention to detail by highly trained, experienced and ethical individuals, timely delivery of accurate net asset value calculations, easy to read investor statements, and responsive turnaround of enquiries from interested parties.  The commitment to relationships and service is just one of many reasons why Pinnacle stands out from the crowd.