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News May 2, 2005 Issue

IM Insight Acquired by Adviser Compliance Associates

Dear Readers,

I am pleased to announce that IM Insight News has been acquired by Adviser Compliance Associates LLC.

Many of you undoubtedly know ACA: theyíre a compliance consulting firm serving investment advisers, hedge funds, and investment companies. Iíve known several of the firmís founders since our days together on the SEC staff.

I am delighted to be working with ACA. Our missions and constituencies are the same: providing the best service and information to CCOs, general counsels, and other compliance and legal personnel at advisory firms. Being part of a larger organization will allow me to focus my energies entirely on producing the best content for my readers. ACA will assume all non-editorial responsibilities involved in producing IM Insight.

What does this mean for you?

If you subscribed to IM Insight prior to April 26, 2005, you will continue to receive print and e-mailed versions of the newsletter consistent with your subscription. You shouldnít notice any change in the newsletter: I will continue as IM Insightís very independent editor for years to come, and Iím not going to change the way I report and write stories.

For more information about ACA or IM Insight, contact Damon Zappacosta at ACA at
(973) 631-1085. As always, you can contact me with any questions or comments about the newsletter, as well.

Sincerely,

Cathie Saadeh

Editor, IM Insight