Tremont Advisers Inc – ‘8-K’ for 9/20/01 – EX-99

On:  Thursday, 9/20/01   ·   For:  9/20/01   ·   Accession #:  950172-1-500809   ·   File #:  0-27077

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2±     9K 
 2: EX-99       Ex-99.1 Press Release                                  2±    11K 

EX-99   —   Ex-99.1 Press Release

                                                          Exhibit 99.1

Press Release 01-06                                                             
FOR IMMEDIATE RELEASE                                                           
Contact:  Robert Schulman, President and Co-CEO,                                
            Tremont Advisers, Inc.                                  914-925-1140
          Barry Colvin, COO, Tremont Advisers, Inc.                 914-925-1140
          Annette Bronkesh, Bronkesh Associates                     973-778-8648

OPPENHEIMERFUNDS ACQUISITION OF TREMONT ADVISERS    
NOT AFFECTED BY WORLD TRADE CENTER DISASTER     

Transaction to Proceed Despite Destruction of OppenheimerFunds'Offices    

Rye, NY, September 17, 2001 - Oppenheimer Acquisition Corp. (OAC) and           
Tremont Advisers, Inc. (Nasdaq Small Cap: TMAV) today announced that last       
week's terrorist attack on the World Trade Center would not stand in the        
way of the planned acquisition of Tremont by OAC. OAC and its subsidiary        
OppenheimerFunds, Inc. were based in the World Trade Center.                    

OAC and Tremont announced in July that OAC would acquire all of the             
outstanding shares of Tremont at $19 per share, merging one of the leaders      
in the hedge fund industry with the strong distribution capabilities of         
OppenheimerFunds, one of the nation's most respected mutual fund manager.       
OppenheimerFunds and its affiliates have more than $120 billion in assets       
under management. The transaction is still scheduled to close early in the      
fourth quarter of 2001. Under the terms of the acquisition, Tremont, one of     
the world's top hedge fund advisory and information firms, will be an           
independent, wholly owned subsidiary of OAC.                                    

John V. Murphy, Chairman and Chief Executive of OppenheimerFunds, said,         
"Our thoughts and prayers are with all those affected by the events of          
September 11. While the process of recovery is just beginning, we are           
committed to continuing to provide investors and financial professionals        
with the investment solutions they need for the long-term. Moving forward       
with the Tremont acquisition is an important step in that direction."           

Robert Schulman, President and Co-CEO of Tremont Advisers said, "While we       
mourn the incredible loss of life at the Trade Center, we are                   
overwhelmingly grateful that all of OppenheimerFunds' employees were            
spared. Both we and OppenheimerFunds are very optimistic about the future,      
and our enthusiasm about joining forces remain exceedingly high."               

Founded in 1959, OppenheimerFunds, Inc. is one of the nation's most             
respected mutual fund managers. As of June 30, 2001, the company and its        
subsidiaries managed assets of more than $120 billion, held in more than        
five million shareholder accounts. OppenheimerFunds is not affiliated with      
either CIBC World Market nor Oppenheimer Capital, the investment management     
firm affiliated with PIMCO Advisors, LP.                                        

Oppenheimer Acquisition Corp., the parent of OppenheimerFunds, Inc., is a       
subsidiary of Massachusetts Mutual Life Insurance Company, a global,            
diversified financial services company with $213 billion in assets under        
management at year-end 2000. Founded in 1959, OppenheimerFunds, Inc. is one     
of the nation's most respected mutual fund managers. As of June 30, 2001,       
the company and its subsidiaries managed assets of more than $127 billion,      
held in more than five million shareholder accounts. OppenheimerFunds is        
not affiliated with either CIBC World Markets nor Oppenheimer Capital, the      
investment management firm affiliated with PIMCO Advisors, LP.                  

Tremont Advisers, Inc. is a diversified holding company which, through its      
subsidiaries, is primarily engaged in three core businesses: advisory           
services, information retrieval and sale, and investment products for the       
global alternative investment industry. Through its London-based                
information and research subsidiary, Tremont TASS (Europe) Limited, the         
firm provides data on the performance of more than 2,500 alternative            
investment managers and funds and promotes advisory and other products          
throughout Europe. Tremont advises on more than $8 billion in alternative       
investments and manages more than $1.5 billion of client assets in its          
proprietary funds. It has more than $250 million in life insurance policies     
in force, which are invested in alternative investments on behalf of            
clients. Tremont's wholly owned subsidiaries, Tremont Partners, Inc. and        
Tremont Securities, Inc., are registered as an investment adviser under the     
Investment Advisers Act of 1940, and as a broker-dealer under the               
Securities Exchange Act of 1934, respectively. Tremont is headquartered in      
Rye, New York and has offices in Toronto, Bermuda and London.                   

# # #     

For more information on Tremont Advisers, Inc., visit www.tremontadvisers.com   
Certain statements in this Press Release may constitute "forward looking        
statements" within the meaning of the Private Securities Litigation Reform      
Act of 1995. Such forward looking statements involve known and unknown          
risks, uncertainties and other factors which may cause the actual results,      
performance or achievements of the Company to be materially different from      
any future results, performance or achievements expressed or implied by         
such forward looking statements. The Company assumes no obligation to           
update these forward looking statements to reflect actual results, changes      
in assumption or changes in other factors affecting such forward looking        
statements.                                                                     

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed on / For Period End:		9/20/01
		9/17/01
		6/30/01		10QSB
				List all Filings