TIDMCSB 
 
RNS Number : 1500Y 
Crosby Asset Management Inc 
28 August 2009 
 

Crosby Asset Management Inc. 
("CAM" or the "Company") 
 
 
CAM's withdrawal as partner to Apollo Multi Asset Management LLP ("Apollo") 
 
 
CAM announces that it has discontinued its joint venture with Apollo Multi-Asset 
Management LLP, ("Apollo"), and, as a result, will withdraw as a partner with 
effect from 31 August 2009 and  the Company will no longer have any ownership 
of Apollo. Apollo had, as at 31 July 2009 funds under management of GBP31.2 
million. 
 
 
Accordingly, Apollo will, repay the regulatory capital of approximately 
US$180,000 (approximately GBP110,000) that was provided by CAM in November 2008. 
Apollo had also been provided with a loan by the Company for general working 
capital purposes and Apollo has agreed to repay the balance of this loan of 
approximately GBP121,000, by offsetting amounts due to Apollo from the Company 
for managing certain of the Company's funds as they are received. The net 
proceeds from these repayments will be used by the Company for general working 
capital purposes. 
 
 
Subject to the approval of the Financial Services Authority, which, it is 
expected, will be received within the next three months, Cloudy 
Lane Limited ("Cloudy Lane") is intending to take a controlling interest in 
Apollo, Cloudy Lane is a vehicle that represents the Nomura Employee Benefit 
Trust of which Simon Fry is a potential beneficiary. Whilst Simon Fry is a 
related party for the purposes of this transaction, it is not deemed a related 
party transaction under Rule 13 of AIM Rules as all of the applicable class 
tests are < 5 per cent. 
 
 
CAM CEO, Simon Fry said: "When CAM entered into the joint venture with Apollo, 
it was always the intention to review our on going involvement at the end of 
June 2009. The Board of CAM has now decided that CAM will withdraw as Apollo's 
partner. This decision is in accordance with our stated strategy, to continue to 
reduce costs and realise assets of the Company wherever possible. We wish Apollo 
and its team a successful future." 
 
 
**Ends** 
 
 
 
 
Note: Apollo is a Limited Liability Partnership that was founded in September 
2008 as a multi asset investment fund manager . Apollo launched its first multi 
asset funds, the Apollo Balanced Fund and the Apollo Cautious Fund, in November 
2008 under the Non UCITS Retail Scheme (NURS) framework. Apollo is authorised 
and regulated by the Financial Services Authority. On a pro forma basis, 
Apollo's turnover and losses before tax  for the six months ended 30 June 2009 
were approximately GBP281,000 and GBP226,000 respectively. Apollo had a net 
asset value of approximately GBP60,000 as at 30 June 2009. 
 
 
 
 
 
 
Enquiries: 
Crosby Asset Management Inc. 
Simon Fry           +44 (0) 20 3291 2863 
 
 
Strand Partners Limited 
Stuart Faulkner / James Spinney            +44 (0) 20 7409 3494 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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