Change of Manager of Frontier Alt Opportunistic Global Fund

Toronto, Ontario – December 16, 2008 – Ark Fund Management Ltd. (“Ark”) is pleased to announce that the proposed change in trustee and manager of the frontierAlt Opportunistic Global Fund (the “Fund”) from frontierAlt Funds Management Limited to Ark has received all necessary unitholder and regulatory approvals and is now complete. The name of the Fund has been changed to “Ark NorthRoad Global Fund” and the portfolio advisor of the Fund will be changed to NorthRoad Capital Management LLC on or about February 28, 2009, subject to the receipt of all required regulatory approvals. Units of the Fund are now offered for sale to investors pursuant to a simplified prospectus and annual information form dated December 10, 2008, copies of which are available by contacting Ark as indicated below. Ark Fund Management Ltd. is a Toronto-based fund company that offers mutual fund and hedge fund products to Canadian investors. The firm is focused on delivering high quality investment funds with flexible investment mandates to maximize the diversification benefits to the investment portfolios of its clients. NorthRoad Capital Management LLC is an employee-owned investment firm that specializes in managing global equity portfolios. The firm adheres to a strict value investment discipline that focuses on high return on equity businesses. Based in New York, NorthRoad was founded in 2002.

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