Westchester Advises StatPro in its Acquisition of ALPHAI

International project conducted jointly by our UK & US offices

LONDON and SAN DIEGO - April 18, 2006: Westchester Associates (www.westchester.co.uk or www.westchesterusa.com) today announced that it advised StatPro Group plc ("StatPro") in its acquisition of ALPHAI Pty Limited ("ALPHAI"), an Australian provider of performance measurement software solutions to asset managers globally. Under the terms of the agreement completed on April 13, 2006, StatPro is acquiring 100% of ALPHAI for an initial consideration (before expenses) of A$3.25 million, and deferred consideration, based on a multiple of revenue generate by the product acquired and the incremental revenues generated in the Australian market. The total consideration is capped at A$15 million.

This project with StatPro represents an example of Westchester's UK and US offices working together to execute an international project for its clients. In addition, this engagement with StatPro, an AIM listed UK-based Company, alongside two completed acquisitions for Netstore plc, is yet another recent example of how Westchester is assisting mid-cap UK public companies expand and increase shareholder value via targeted acquisitions.

Remarking on Westchester's contributions to this successful transaction, Justin Wheatley, StatPro CEO said, "Westchester has performed an excellent job in finding and securing a wide range of potential acquisition targets in our market. Many Corporate Finance companies talk big and deliver little, but Westchester has proven to be an exception to the rule providing us with a diligent and professional service that has helped us grow our business and increase shareholder value. We look forward to working with them on many other deals."

StatPro Group plc is a leading provider of portfolio analytics solutions for the global asset management industry. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. StatPro has grown its revenue from continuing operations from £1.8 million in 1999 to £10.8 million in 2005.

Alphai Pty Limited is a software development and marketing company based in Sydney, and is a leading supplier of ASP performance measurement solutions to asset managers globally.

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