October 2, 2008

Mooring Intrepid Opportunity Fund Reports 132.1% Gain For 18-Month Period
Fund Posts 37% Increase YTD on Continued Deterioration in Commercial Real Estate, Corporate Debt Markets

Vienna, VA – October 1, 2008 – Mooring Financial Corporation, a private investment firm specializing in the management of alternative assets, today announced 18-month performance results for Mooring Intrepid Opportunity Fund. Since formation on March 1, 2007 through August 31, 2008, Mooring Intrepid Opportunity Fund reported a net gain to investors of 132.1 percent. This is the Fund’s highest gain on investment to date. Year-to-date through August 31, 2008 the Fund posted an increase of 37 percent.

Mooring Intrepid Opportunity Fund is an alternative assets investment vehicle that was formed to capitalize on corrections expected to take place within the financial and real estate markets. The Fund invests in various credit derivative indices including the High-Yield Corporate Bond Index and the Commercial Mortgage-Backed Securities Index. The Fund’s principals apply extensive analysis and due diligence before taking selected positions.

Said Mooring Financial Corporation President and founder John Jacquemin, “The centerpiece of our objective for Mooring Intrepid Opportunity Fund is the expectation of a repricing of risk in the credit markets. We mapped out a strategy two years ago in anticipation of the credit markets debacle now taking place. This Fund has a very different risk profile than the 10-year old Mooring Capital Fund, which has returned above average, double digit returns to investors with very little volatility. Mooring Intrepid Fund’s positions are volatile and aggressive, and appropriate only for investors who understand these risks. We believed strongly that the credit markets had reached a point of excess never before experienced in modern history. And we felt strongly that the risk/reward ratio was very much in our favor. This has proven to be the case.”

In recent weeks, the Fund has begun to take additional bearish positions in financial and commercial real estate stocks as well as exchange traded funds in anticipation of continued deterioration within these markets.

“Our positions in Mooring Intrepid Opportunity Fund are benefiting from deepening concerns about the financial markets and, more specifically, a growing realization that the underlying problems of the current credit crisis simply cannot be corrected in the short-term,” said Jacquemin. “Although it’s critical not to lose sight of market risk and volatility, we believe we are positioned to continue to benefit from the current momentum.”

About Mooring Financial Corporation Mooring Financial Corporation is a private investment firm that specializes in the management of alternative assets for high net worth individuals and institutional investors. The firm has acquired and managed more than $2 billion of financial assets since inception in 1982. Mooring Financial Corporation manages four funds across different asset classes, including distressed commercial loans, real estate tax liens, publicly traded equities and credit derivatives. The firm also directs Mooring Tax Asset Group, one of the largest tax lien investors and servicers in the United States. Mooring Financial Corporation is headquartered in Tysons Corner, Virginia. For more information please visit www.mooringfinancial.com.


Certain information discussed in this press release may constitute forward-looking statements. Although the firm believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.