Earn CLE CreditsCLE 5.5*/ CPE 6.0**

HedGe FuNdS: ISSueS ANd OPPORTuNITIeSIN TOdAY’S CAPITAL MARKeTSTHe SeA OF CHANGe: NAVIGATING THROuGH THe uNCHARTed wATeRS AHeAd

• Latest Hedge Fund Activism and Response Strategies• Current Legal Issues Affecting Activism• Hedge Funds and Redemption Issues• Regulatory Actions and Proposals

PROGRAm ChAIRS: Paul N. Roth, Partner, Schulte Roth & Zabel LLPStephen Fraidin, Partner, Kirkland & ellis LLP

April 29, 2009 Citigroup CenterNew York, NY

Stephen Fraidin, Partner, Kirkland & Ellis LLPMr. Fraidin’s practice focuses on the representation of major companies and investment groups, acquisitions, proxy contests and the representation of special committees and boards of directors regarding mergers and acquisitions and corporate governance

Paul N. Roth, Partner, Schulte Roth & Zabel LLPMr. Roth is a founding partner of Schulte Roth & Zabel LLP. He heads the firm’s private investment funds practice, which involves over 90 attorneys and approximately 1,500 hedge funds, private-equity funds and offshore funds. His practice focuses on investment advisers and broker/dealers, cross-border acquisitions of the united States, securities regulation, mergers and acquisitions, and financial transactions.

Roel C. Campos, Partner in Charge, Cooley Godward Kronish LLP, Washington, DCMr. Campos’ practice consists of advising corporate management teams and boards of directors with respect to enforcement, internal investigations, prosecutions, securities and international regulation, and corporate governance.  Mr. Campos was recently named to President Barack Obama’s economic advisory board. Prior to joining Cooley, Mr. Campos was a Commissioner of the Securities and exchange Commission.

LATEST HEDGE FUND TACTICS: NAVIGATING IN A SeA OF CHANGeFinal quarter 2008 witnessed a record $152 billion withdrawal from the hobbled Hedge Fund market. This unprecedented level of redemption marked the end of an era. The rush to redeem, coupled with a scandal-riddled landscape, has had a drastic impact on Hedge Funds. Two years of record-breaking growth evaporated as assets returned to 2006 levels prompting a new mindset of “Adapt or die.” Join us as we learn the best way to navigate the uncharted waters ahead.

This conference will explore the latest hedge fund strategies and survival tactics. Learn how the current economic crisis will affect hedge fund strategies going forward, and get the inside track from hedge fund leaders and their advisors on what you need to know to meet the challenges and see the opportunities that lie ahead.

Don’t miss this chance to learn the latest from the leaders in the hedge fund industry. Highlights Include: • Activist Strategies and Case Studies of Proxy Contests • Legal Issues Affecting Hedge Fund Activism • How to Prepare and Respond to a Hedge Fund Attack • A New Look at Redemption Issues

PROGRAM CHAIR

KeYNOTe SPeAKeR

FACuLTYBenjamin AllensworthSenior Legal Counsel Managed Funds Associationwashington, dC

Thomas A. BiolsiAssociate Regional director for examinationsu.S. Securities and exchange CommissionNew York, NY

Stephanie P. BreslowPartnerSchulte Roth & Zabel LLPNew York, NY

Norman H. ChaitChartered Financial Analystwhite Plains, NY

Lawrence Clark, Jr.Managing directorHarbinger Capital PartnersNew York, NY

Frederick H. FogelGeneral CounselSilver Point Capital, L.P.Greenwich, CT

Joele FrankManaging PartnerJoele Frank, wilkinson Brimmer KatcherNew York, NY

Howard O. GodnickPartnerSchulte Roth & Zabel LLPNew York, NY

Udi GrofmanPartnerSchulte Roth & Zabel LLPNew York, NY

Richard H. GrubaughSenior Vice Presidentd.F. King & Co., Inc.New York, NY

Henry HuAllan Shivers Chair in the LawOf Banking and Financeuniversity of Texas School of Law Austin, TX

Roy KatzoviczGeneral CounselPershing Square Capital Management, L.P.New York, NYDavid A. KatzPartnerwachtell, Lipton, Rosen & KatzNew York, NY

Marco V. MasottiPartnerPaul, weiss, Rifkind, wharton & Garrison LLPNew York, NY

Robert G. Minion, Esq.Chairman, Investment Management GroupLowenstein Sandler PCNew York NY

Rachel PosnerSenior Managing directorGeorgeson, Inc.New York, NY

George SardChairman and Chief executive OfficerSard Verbinnen & Co.,New York, NY

Michael J. SchmidtbergerPartnerSidley Austin LLPNew York, NY

John E. TavssPartnerSeward & Kissel LLPNew York, NY

Christopher YoungVice President & directorM&A InsightRiskMetrics GroupNew York, NY

©2009 Thomson Reuters

8:30 – 9:30am REGISTRATION AND BREAKFAST

9:30 – 10:30amLATEST HEDGE FUND ACTIVISM STRATEGIES AND CASE STUDIES • Proxy contests – Office Depot • Case studies: • CSX • GenCorp •NYTimes

10:30 – 11:30am CURRENT ISSUES AFFECTING HEDGE FUND ACTIVISM • Shaky markets and shrunken credit • “debt decoupling” and “equity decoupling” • Impact of Steel Partners merger into

“webFinancial Solution”

11:30 – 11:45am COFFEE BREAK

11:45am – 12:30pm RESPONSES TO ACTIVISM: HOW TO PREPARE AND RESPOND TO A HEDGE FUND ATTACK • Assembling a response team • Closing corporate governance gaps • Communicating business strategy

12:30 – 1:30pm LUNCHEON WITH KEYNOTE SPEAKER Roel C. Campos, Partner in Charge,

Cooley Godward Kronish LLP, washington, dC

1:30 – 2:15pmHEDGE FUNDS IN DISTRESSED DEBT • dislocation in the credit markets • Real value in the current environment • Forecast for 2009

2:15 – 2:30pm COFFEE BREAK

2:30 – 3:30pmHEDGE FUNDS AND REDEMPTION ISSUES • Redemption and freeze • Liquidation • Investigation/litigation

3:30 – 4:30pmRESPONSE TO SCANDAL – A NEW REGULATORY LANDSCAPE • Legislative response • Regulatory actions and proposals • Fund and investor initiatives • New best practices

CANCeLLATIONS ANd CHANGeS: No cancellations permitted less than two weeks prior to the start of the conference. Seminars are held subject to enrollment. dates, venue and program details are based on information available upon publication of the brochure, and may be subject to change. In the event of a conference cancellation, west Legalworks will make a full refund of any registration fees paid but assumes no liability for non-refundable transportation costs, hotel accommodations or additional costs incurred by registrants.

*CONTINuING eduCATION CRedIT: States have widely varying regulations regarding CLe credit. Please contact west Legalworks for inquiries about the availability of CLe credit in your state. west Legalworks is an approved CLe provider in New York, California and Illinois. Financial assistance is available in the event of hardship. Call 800.308.1700 for details.

**west Legalworks is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPe Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPe credit. Complaints regarding registered sponsors

may be addressed to the National Registry of CPe sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219- 2417. web site: www.nasba.org. For more information regarding administrative policies such as complaints and refunds, please contact our offices at 1.800-308.1700. Intermediate level. No advanced preparation required. Previous training or experience with field of study a prerequisite. For specific CPe credits contact west Legalworks at 1.800.308.1700.

Complimentary copies of west books may be provided at this event. Registering for this event authorizes west, a Thomson Reuters business, to automatically ship you updates of the title(s) as they are published. west will bill you separately for the cost of these updates, plus shipment costs and tax. Prices are subject to change without notice. with this subscription, you agree to the terms of the standard west sales agreement; a copy is available on request.

dISCLAIMeR: west Legalworks™ has the right to refuse any registration at its own discretion.NO TAPe ReCORdING PeRMITTed. © 2009 Thomson Reuters

VENUE AND HOTEL ACCOMMODATIONS The Citigroup Center, Kirkland & ellis LLP Conference Center, 50th Floor, 153 e. 53rd Street, New York, NY 10022 (212) 446-4600

PROGRAM SCHeduLe 9:30am – 4:30pm Including Luncheon

Registration Fee .................................................$845The registration fee includes the conference, luncheon and course materials. All payments must be received prior to the start of the conference.

Online: www.westlegalworks.com/eventsPhone: 800.308.1700REGISTER TODAY!

COMPLIMENTARY COPY FOR ALL DELEGATES HedGe FuNdS ANd OTHeR PRIVATe FuNdS:ReGuLATION ANd COMPLIANCe, 2008-2009 ed.(Securities Handbook Series)By ThomasP.Lemke,GeraldT.Lins,KathrynL.Hoenig,PatriciaS.Rube

This title provides you with detailed analysis, practical guidance, and primary source materials relating to legal, regulatory and compliance issues for operations of hedge, offshore, and other private funds. Includes an overview of key players and documents, explanations of legal requirements, and recent regulatory enforcement actions. Price.....$241.00

Who Should Attend?• Hedge Fund COOs, CFOs

• Attorneys Representing Hedge Funds and Funds of Funds

• Hedge Fund General Counsel & Portfolio Managers

• Attorneys Specializing in Securities Regulation and Compliance

NAVIGATING THROuGH THe uNCHARTed wATeRS AHeAd

REGISTER TODAY 800.308.1700

HedGe FuNdS: ISSueS ANd OPPORTuNITIeS IN TOdAY’S CAPITAL MARKeTSApril 29, 2009 • New York, NY

195 Broadway, 9th FloorNew York, NY 10007

PReSORTed STANdARd

u.S. POSTAGe PAIdweST