PRESS RELEASE

For immediate release

NEW HEDGE FUND MAGAZINE AND WEB OFFERING TO LAUNCH IN SEPTEMBER

Euromoney Institutional Investor, the international publishing and information company, will
launch a new magazine and online offering covering US and international hedge funds in
September.

The company’s hedge fund publishing assets include Institutional Investor’s Alpha magazine
and Absolute Return magazine, which is published by HedgeFund Intelligence, the world’s
leading information source on hedge funds. The new publication will be titled “AR”.

“The new publication will include everything that Alpha contained, and everything that Absolute
Return contained, but it will be a new magazine which will contain a lot of editorial that neither
magazine does, including new surveys, rankings and high-powered web functionality,” says
Euromoney Institutional Investor chairman and editor-in-chief Padraic Fallon.

“With the hedge fund sector under intense scrutiny from Washington, regulators and investors,
this is an excellent time to launch a hedge fund publication,” he says. “Building on the
strengths of both Institutional Investor and HedgeFund Intelligence, we have the opportunity to
produce the world’s leading hedge fund title which will keep investors, managers, regulators
and the whole hedge fund community informed on developments in the sector.”

Michelle Celarier, who is the editor of Absolute Return, will be the editor of the new magazine.

“Hedge fund performance has recovered strongly in 2009, after the sector’s worst ever
performance in 2008, and there are now significant opportunities,” says Celarier. “The new
magazine is an exciting development because it joins two prestigious monthly magazines that
cover hedge funds to create a single authoritative voice. Our mission is to create the most
insightful, entertaining and definitive content about the hedge fund industry, in both the printed
magazine and online. We will offer readers information they cannot find elsewhere, including
news and performance data on thousands of funds, along with in-depth analysis, research and
profiles of the biggest hedge funds.”
Advertising will be sold by Christine Cavolina, publisher of Institutional Investor, and the
Institutional Investor sales team, led by Joy Desanto.

“AR will provide an unparalleled editorial environment for advertisers interested in the hedge
fund industry,” says Cavolina. “It presents the ideal opportunity for companies serving this
audience to influence decision-makers and generate new business.”

Note for editors:

Institutional Investor publishes Institutional Investor magazine, which was founded in 1967 to
inform, instruct and entertain members of the financial community through identifying and
examining the individuals and institutions that wield power and influence in the world.

HedgeFund Intelligence is the world’s leading information source on hedge funds and those
investing in hedge funds including fund of funds. It publishes performance data on more than
10,000 hedge funds and fund of funds around the globe, and its titles cover the U.S., European
and Asian markets.

Euromoney Institutional Investor PLC is listed on the London Stock Exchange and a member
of the FTSE-250 share index. It is a leading international business-to-business media group
focused primarily on the international finance, metals and commodities sectors. It publishes
more than 70 magazines, newsletters and journals, including Euromoney, Institutional Investor,
and Metal Bulletin. It also runs an extensive portfolio of conferences, seminars and training
courses and is a leading provider of electronic information and data covering international
finance, metals and emerging markets. Its main offices are in London, New York, Montreal and
Hong Kong, and nearly half its revenues are derived from emerging markets.

For further information:

Editorial – Michelle Celarier – 212 224 3021 mcelarier@absolutereturn.net

Advertising – Christine Cavolina – 212 224 3319 ccavolina@iimagazine.com