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Wednesday 19 November, 2003

First Light Fd

Cancellation of Listing

First Light Fund
19 November 2003

                              COMPANY ANNOUNCEMENT
                For Immediate Release                                    19 November 2003

                                FIRST LIGHT FUND

                                  (the 'Fund')

                          Re: Cancellation of Listing

The Directors of the Investment Manager of the Fund wish to announce that the
Fund has been liquidated.

Application has been made for the Series One Units of the Fund to be removed
from the Official List of the Irish Stock Exchange and the Irish Stock Exchange
has agreed that the Series One Units be delisted with effect from 21 November

Investor Select                                                         John Trammell

                                                                        Phone: +212 744 9100
Ernst & Young                                                           Kate Brown

Listing Sponsor                                                         Phone: + 353 1 475 0555

This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                               

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