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Wednesday 12 December, 2001

HibernianAlternative

Change of Director

Hibernian Alternative StrategiesTst
12 December 2001


                         STOCK EXCHANGE ANNOUNCEMENT


For Immediate Release     12 December, 2001

                    Hibernian Alternative Strategies trust


                         Re:      Change of Director


The Directors of Hibernian Investment Finance Limited (the 'Manager',) the
manager of Hibernian Alternative Strategies Trust (the 'Trust'), wish to
announce the resignation of Mr. Pramit Ghose as a Director of the Manager, for
business reasons, with effect from 20 November 2001.

Enquiries:

J & E Davy                              Contact: Judith Murphy
Tel: +353 1 614 9950

Hibernian Investment Finance Limited    Contact: Pat McGorrian/Tony O'Riordan
Tel: * +353 1 607 8000



                                                                                
                                                                                
                                                                         

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