Charlotte, NC, October 30, 2009 – 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 II 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 the SAS 70 type II examination is a very satisfying progression from the type I report that was issued in 2008, and serves to enhance and validate our reputation for providing a very high quality of service to all of our clients by establishing and rigorously following a control environment that is second to none in the field of third party administration” says John Kelly, Managing Member of Pinnacle.  “We are proud to have been able to follow through on our previously stated objective of subjecting our operations to a comprehensive third party external examination of our control environment by a highly respected audit firm.”

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 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.