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Primus Asset Management, Inc., a wholly owned subsidiary of Primus Guaranty, Ltd. (NYSE:PRS), today announced it had entered into a definitive agreement to acquire CypressTree Investment Management, LLP. Founded in 1995, CypressTree manages leveraged loans and high yield bonds in a variety of investment products, including collateralized loan obligations (CLOs), collateralized swap obligations (CSOs), off-shore funds and separately managed accounts. Its assets under management total approximately $2.4 billion.

Vincent Abruzzini has been a Senior Portfolio Manager at Primus Asset Management since 2002. Mr. Abruzzini is responsible for managing Primus Asset Management’s portfolios of credit default swaps. He joined Primus from Summit Bancorp/Fleet Financial Corporation, where he served as Vice President/Director of Specialized Industries Credit Risk Management and managed a corporate credit/capital markets portfolio with commitments in excess of $4 billion. Prior to that, Mr.

Primus Guaranty, Ltd. is a Bermuda company with offices in New York. Through its subsidiary, Primus Financial Products, LLC, the Company provides protection against the risk of default on primarily investment grade corporate reference entities.

While Primus endeavors to provide accurate and timely information, the information available on the Site may include inaccuracies or typographical errors.

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