New York (For Immediate release)—Global Change Associates and Utilipoint International announce a half day seminar to be held on Energy Hedge Funds Entering European Trading during IP Week. The seminar is to be held on February 15, 2005 from 9:00 to 12:00 at the Burton Room at the Institute of Directors in central London . Both these consulting companies have been researching energy hedge funds for over 8 months and have now detected new interest in Europe to enter energy commodity trading, carbon trading, renewable energy trading, distressed debt, weather trading and other plays in the energy and environmental complex.

Both companies recently issued a new report on “Energy as an Asset Class for Hedge Fund Diversification,” and launched the increasingly popular free Energy Hedge Fund Center website ( www.energyhedgefunds.com). The two companies also publish an energy hedge fund directory.

“We are currently seeing new interest in Europe to invest in the increasingly volatile energy sector,” said Peter Fusaro, Chairman of New York-based Global Change Associates.

“Our research shows that there is particular interest in the UK and Switzerland to launch more energy hedge funds,” said Dr, Gary Vasey, VP, Trading and Risk Management of Utilipoint International.

This seminar will have four speakers, besides the presentation of Mr. Fusaro, the best selling author of “What Went Wrong at Enron,” who will provide the overview of energy market changes, the other experienced energy industry speakers include his research colleague Dr. Gary Vasey of Utilipoint, Dr. Nedia Miller, of Miller CTA and member of NYMEX, and Mr. Tom James, noted energy author, former energy trader and broker and now consultant based in Europe.

The team will present on current market changes, why energy hedge funds need to diversify in energy, insights on portfolio strategy, the advantage of OTC clearing to hedge funds.

For further information on the program and registration go to www.energymediagroup.com or contact Peter Fusaro at 212-316-0223/ [email protected] or Gary Vasey at 281-681-8020/ [email protected]. Press passes are available to qualified members of the press.

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