Energy & Environment Capital Management Teams with Coastal Partners to Launch Offshore Fund of Funds in Energy and Environment

New York, NY August 30, 2006 -- Energy & Environment Capital Management LLC (EECM) and Coastal Partners, Ltd. have joined forces to launch an offshore version of the Energy & Environment Fund, a fund of hedge funds that seeks to provide superior returns with lower volatility and risk. EECM already manages the onshore version of the fund.

“The Coastal Partners team brings both money management and fund of funds management experience as well as an offshore platform for the fund,” said Dr. Gary M. Vasey, COO, EECM. “With EECM’s energy & environment knowledge, specific energy due diligence and risk management skills, the combination is very powerful.”

“We see investment opportunities in energy and environmental hedge fund managers as a diversified opportunity across commodity, geography and financial instrument,” Peter C. Fusaro, CEO, Energy and Environment Capital Management LLC.

The Energy & Environment Fund Ltd will launch in September as a Bahamian professional investment fund. The Fund will be administered by Sterling Management Limited and audited by KPMG.

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