Opus Alternative Strategies Fund Ld Announcements

Schroder Alternative Strat Fund Ltd
05 February 2007

Stock Exchange Announcement

For immediate release 5 February 2007
Schroder Alternative Strategies Fund Limited (the "Fund")

Re: Change of board of Directors

The Fund wishes to announce that the following Fund directors have resigned with
effect from 31 January 2007, Mr Gary Carr, Mr. Peter Clark, Mr. Terry Dornbush,
Ms. Maria Ramirez, Mr. Richard Foulkes and Mr. Peter Knight. Effective the same
date, Mr Laurent Arnoux, Mr Marcus Everard, Mr Massimo Tosato, Mr Eric Bertrand,
Mr Hendrik van Riel and Mr Marc Hotimsky (the "Directors") have been appointed
as directors of the Fund.

Laurent Arnoux acts today as a financial advisor through A&H Partners SA a
Geneva based company that he partly owns, prior to that he was co-founder of The
Family Office, a Swiss-based investment company affiliated to the ASG
(Association Suisse des Gerants de Fortune), acting as a global financial
advisor for high net worth families, between 2001 and 2004. Prior to that,
beginning in 1988 he worked at Credit Suisse Group in Geneva where he headed
various activities, starting with the creation of the SOFFEX team for trading
listed options. As of 1991 he developed, working closely with CSFP, the Private
Bank's OTC derivative and structured products for portfolio management, before
running the advisory and research departments. From 1997 until 2001, he was Head
of the Special Clients department for sophisticated high net worth individuals.
Prior to that, Mr Arnoux worked from 1986 to 1988 at Goldschmidt & Kenk in
Paris, a French OTC financial instruments broker on the MATIF. Prior to that,
he was in trading commodities markets at Drexel Burnham Lambert and Compagnie
Francaise du Sucre (Jean Lion & Cie.). He is a Swiss citizen.

Marcus Everard since early 2001, has split his home base between Tokyo and Hong
Kong, being a private investor managing a portfolio of investments in small
private companies. From 1982 to 2001, Mr. Everard was employed by Credit Suisse
First Boston (CSFB). Mr. Everard was based in London from 1982 to 1998 when he
relocated to Hong Kong. By the time of his retirement from CSFB, Mr. Everard was
serving as a member of the firm's worldwide Operating Committee, Head of
Investment Banking for the Asia Pacific region and held responsibility for the
firm's clients based in the emerging markets worldwide. Prior to his role as the
head of emerging markets, from 1991 to 1998, Mr. Everard was in charge of CSFP's
(the firm's derivative subsidiary) European and Asian marketing businesses base
out of London. Mr. Everard, born in 1959 graduated with an MA Honours in
Chemistry in 1982 from Brasenose College, Oxford (open scholarship) with prior
education at Oundle School.

Massimo Tosato, Group Managing Director of Schroders plc, joined the Schroders
group in 1995. He was appointed to the board of Schroders Plc in 2001 and became
Global Head of Distribution in September 2003. Mr Tosato studied Economics in
Rome and received his MBA from Columbia Business School, Columbia University,
New York. Between 1981 and 1992 he was a founding partner and Chief Executive
Officer of Cominvest SpA. From 1992 to 1995 he was a partner and managing
director of Euromercantile SpA. From 1995 to 1999 he was responsible for
Schroders' asset management activities in Italy and from 1999 to 2001 for the
whole of continental Europe; he became Global Head of Europe in 2001. He is a
member of the International Advisory Board of Columbia Business School (NYC).
From 2002 to 2005 he was an independent director of Banca Nazionale del Lavoro
(Italy). In March 2005 he became a board director of the Parasol Unit
Foundation for Contemporary Art, London.

Eric Bertrand was a Managing Director of JP Morgan from 1994 until 2001 when he
retired. He was a member of the European management committee and co-head of the
fixed income derivatives business at JP Morgan for Europe and Asia. In his
functions, Mr. Bertrand was actively involved with hedge funds supervising the
coverage of JP Morgan's hedge fund clients and the development, risk management
and distribution of JP Morgan's hedge fund related structured products. In
addition, he was appointed co-head of debt origination for Europe in 1997. His
trading, structuring, coverage and management experience at JP Morgan, a leading
derivatives and risk management investment bank, gave Mr. Bertrand an extensive
quantitative and qualitative experience of the financial markets and alternative
investment fund industry. Mr. Bertrand has graduated from Ecole Superieure des
Sciences Economiques et Commerciales. He is a French national and is married
with three children.

Hendrik van Riel is a managing member and the Chief Executive Officer of
Lentikia Capital LLP, the UK investment manager of the Lentikia group of
companies. He has held numerous senior management positions in investment
banking and asset management over the past thirty years. Having sold his
brokerage firm he co-founded in Brazil (1977 to 1993), Mr. van Riel was
treasurer, head of propriety trading and responsible for fixed income and
foreign exchange sales and trading for JP Morgan in Rio de Janeiro, Brussels,
London and Milan over a twelve year period (1984 to 1996). In Italy, Mr. van
Riel chaired the management committee, with accountability for all the bank's
activities. Mr. van Riel joined JP Morgan Investment Management (JPMIM) in New
York in 1996 to establish the European asset management and private banking
strategy of JPMIM as an integral part of Wealth Management, one of JP Morgan's
three core businesses. He moved to London in 1997 to implement and manage the
strategy, focusing on Investment Management (1997 to 2000), including the
Private Bank (1998 to 1999), and Asia (2000). As head of JPMIM, he was
responsible for the management of US$80 billion in assets. Following the merger
of JP Morgan & Co., Inc. and Chase Manhattan Corporation in 2000, Mr. van Riel
oversaw the formation of JP Morgan Fleming Asset Management through the
consolidation of Chase Fleming Asset Management (CFAM) and JPMIM. He took
responsibility (between October and December 2000), along with the chairman of
CFAM, for the international strategy of JP Morgan Fleming Asset Management
outside the US. From 2001, Mr. van Riel successfully executed this strategy in
Europe, the Middle East and Africa. Since November 2001, Mr. van Riel has served
as a non-executive director on the board of several private asset management
companies and managed his personal investments. In March 2006, he co-founded
Lentikia Capital LLP, a UK based asset management company and subsequently, the
Brocade Fund, a macro hedge fund, managed by Lentikia with assets under
management at launch of US$100 million. Mr. van Riel is a graduate of New York
University (MBA Finance 1975).

Marc Hotimsky is a co-founder and principal of NewFinance Group since July 2000.
From 1992 until July 2000, Mr. Hotimsky was a Managing Director at Credit Suisse
First Boston (CSFB). Since 1996, he had been a Member of CSFB's Executive Board
of Directors responsible for CSFB's fixed income activities worldwide. He built
the firm's Foreign Exchange and Emerging Markets businesses, two activities he
ran directly until February 1996, when he was appointed Global Head of Fixed
Income and a Member of the firm's Executive Board. Areas under his
responsibility included bond trading, sales and origination, high yield debt,
emerging markets, foreign exchange and money markets, commodities, real estate
finance, fixed income research and a group responsible for the incubation of a
family of hedge funds. In January 1999, following the merger with Credit Suisse
Financial Products, he became Global Co-Head of the Fixed Income and Derivatives
Division of Credit Suisse First Boston, the largest division of the firm in
terms of size and profitability. Mr. Hotimsky joined CSFB from Bankers Trust
where he worked for five years in the Derivatives Division, both in London and
New York. From 1990, Marc was head of Trading and Risk Management worldwide for
all derivative products (equities, fixed income, foreign exchange and
commodities) for Bankers Trust. Prior to Bankers Trust Mr. Hotimsky worked for
Citibank as Head of Foreign Exchange Trading in Paris, between 1984 and 1986. He
started his career in 1978 at JP Morgan as a credit analyst, then moved to the
treasury division. Mr. Hotimsky graduated from the Solvay Business School in
Brussels, Belgium in 1978.

None of the Directors have any unspent convictions, have ever been declared
bankrupt, nor have they been the subject of an individual voluntary arrangement
or a receivership of any assets held by them. They were not a director of any
company at the time of or within the 12 months preceding its bankruptcy,
receivership administration, liquidation administration, company voluntary
arrangement or composition or arrangement with its creditors generally. There
have been no public criticisms of the Directors by any statutory or regulatory
authority nor have they ever been disqualified by a court from acting as a
director of a company or from acting in the management or conduct of the affairs
of any company. The Directors have not been a partner of any partnership at the
time or within 12 months preceding its compulsory liquidation, administration or
partnership voluntary arrangement. The Directors have not had a receiver
appointed over any of their assets or of any of the assets of a partnership of
which they were a partner within 12 months after they ceased to be a partner of
that partnership.

A memorandum detailing the names of all companies and partnerships of which the
Directors have been a director or partner in the past five years, together with
an indication of whether or not they are still a director or partner, is
available for inspection at the Offices of Goodbody Stockbrokers, Ballsbridge
Park, Ballsbridge, Dublin 4.

Enquiries:

Goodbody Stockbrokers Sarah Fallon
+353 1 6419136

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

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