TAPESTRY INVESTMENT COMPANY PCC LIMITED
(a closed-ended protected cell company incorporated with limited liability
in Guernsey with registered number 42750)
TAPESTRY INVESTMENT COMPANY - MULTI-STRATEGY (GBP)
2 October 2008
Portfolio Disclosure
Tapestry Investment Company PCC Limited (the "Company") announces today that as
at 30 September 2008, the Company's top ten holdings were:
Elliott International Limited 6.72%(e)
Brevan Howard Fixed Income, Ltd.* 4.57%(e)
Millennium International, Ltd. 4.53%(e)
GSO Special Situations Fund, Ltd. 4.00%(e)
Mast Credit Opportunities I, Limited 3.98%(e)
Farallon Capital Offshore Investors, Inc. 3.86%(e)
Goldman Sachs Investment Partners Offshore, LP 3.81%(e)
Cerberus International, Ltd. 3.31%(e)
Taconic Opportunity Offshore Fund Ltd. 3.07%(e)
Ecofin Special Situations Utilities Fund, Ltd. 2.97%(e)
The above disclosure is provided on a look through basis. Asterisked
investments (*) represent investments held within Ramius Fixed Income Arbitrage
FOF Ltd. (formerly "Tapestry Global Arbitrage Fund, Ltd.") and Ramius Hedged
Equity FOF Ltd. (formerly "Tapestry Hedged Equity Fund, Ltd."), both single
strategy funds of hedge funds managed by the Company's investment adviser,
Ramius Fund of Funds Group LLC ("Ramius"), through which the Company attains
its targeted weight to the fixed income arbitrage strategy and the hedged
equity strategy respectively.
The Board's policy is to allow the Company to invest up to 40% of its total
assets in Ramius managed funds, provided that no single fund of hedge funds
affiliated with Ramius accounts for more than 20% of the Company's assets. As
at 30 September 2008, the Company's holdings in Ramius Fixed Income Arbitrage
FOF Ltd. and Ramius Hedged Equity FOF Ltd. represented 8.72%(e) and 1.89(e)%
respectively of its total assets.
The Company does not pay any additional fees to Ramius in respect of such
investments and will continue to provide portfolio disclosure on a look through
basis.
(e) denotes estimated holding amount based on information available to
investment adviser (or general partner) as of applicable month end.
Enquiries:
Ramius 020 7016 4201
Anthony Simpson +1 212 845 7939
Hiren Patel
Dresdner Kleinwort 020 7475 6702
Tom Harris 020 7475 4933
Neil Brierley 020 7475 6688
Dominic Waters 020 7475 6685
Gavin Tooke
Kleinwort Benson (Company Secretary)
Roger Sendall 01481 752409
Dresdner Kleinwort Limited, which is authorised and regulated by the Financial
Services Authority, is acting for Tapestry Investment Company PCC Limited and
for no-one else in connection with the contents of this announcement and will
not be responsible to anyone other than Tapestry Investment Company PCC Limited
for providing the protections afforded to customers of Dresdner Kleinwort
Limited, or for affording advice in relation to the contents of this
announcement or any matters referred to herein. Dresdner Kleinwort Limited is
not responsible for the contents of this document. Dresdner Kleinwort Limited
has given and not withdrawn its written consent to the issue of this
announcement with the inclusion of the reference to its name in the form and
context in which it is included.
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