Company Press Release

NEW YORK, SEPTEMBER 15, 2008—Fred Alger Management, Inc. (Alger) is pleased to announce three significant recent additions to their Institutional Sales team. Paul Meskiewicz has joined as Senior Vice President, Public Funds Sales, and Ted Doyle joins as Vice President, Consultant Relations. The addition of Paul and Ted reflects Alger’s continued and expected institutional client growth and further deepens the firm’s commitment to the institutional community. In addition, Jonathan “Tyler” Foster has been promoted from within Alger to Assistant Vice President, Client Relations.

Paul joins Alger from Hartford Financial Services where he was a Managing Director, responsible for business development and client service for Public Fund and Taft Hartley accounts. Earlier this year, Paul was named “Public Fund Marketer of the Year” by Money Management Letter, a reflection of the following and respect Paul has earned from both his clients and peers. Prior to joining Hartford, Paul was with Bank of New York and has over 20 years of professional experience. Paul is a graduate of Fairfield University.

Ted joins Alger from Ark Asset Management where he was a Senior Manager, responsible for the development of new business within the institutional marketplace. Ted brings over eight years of professional experience to Alger. Prior to his business career, Ted spent five years in the U.S. Army where he retired with the rank of Captain.

Tyler has been with Alger since 2000, and has held a number of positions, most recently as Assistant Vice President, Investment Analyst. Tyler is currently a Level III candidate in the CFA program.

“We are very pleased to have Paul and Ted join Alger,” said Dan Chung, CEO of Fred Alger Management, Inc. “The addition of these two highly skilled and experienced individuals to our Institutional Team will assure we can continue to build upon and support both the plan sponsors and consultant community as a growing part of our business practice. The addition of Tyler will allow us to provide an even higher level of support for our institutional client base.”