Ambridge Partners Introduces Trade or Business Insurance Policy 4/21/2003 (New York, April 21, 2003) Ambridge Partners LLC (“Ambridge”) today introduced its Trade or Business Tax Insurance policy. This new policy is designed to address the tax-related risk of foreign persons being characterized as “engaged in a U.S. trade or business” by virtue of their investment in privately placed investment funds, venture capital funds and hedge funds with U.S.-based advisors or managers, or when engaging in a limited transaction in the U.S. “We are pleased to introduce this new tax policy as part of our continued effort to provide our clients with additional insurance solutions relative to transactional related tax issues that they face,” said Jeffrey Cowhey, Ambridge’s President. The Trade or Business Tax Insurance policy can be structured to cover the exposures resulting from a single investor as respects a single investment, a single investor as respects multiple investments or a private investment fund as respects its indemnification obligation to all foreign investors in the fund. For more information, or for policy forms, applications or broker informational kits, please contact Ambridge at 212.871.5400 or email us at info@ambridgepartners.com.