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Wednesday 03 July, 2002

KBC Alpha Fund SPC

Notice of EGM

KBC Alpha Fund SPC
3 July 2002

                              Company Announcement

For Immediate Release                                                3 July 2002

                       KBC alpha Fund spc (The 'Company')

                   Re: Notice of Extraordinary General Meeting

The Board of Directors of the Company hereby give notice that an Extraordinary
General Meeting ('EGM') of the Company will be held at the offices of Queensgate
Bank and Trust Company Limited, 5th Floor, Harbour Place, PO Box 30464 SMB,
Grand Cayman, Cayman Islands on 11 July 2002 at 10 a.m. (Cayman Islands time).

A Circular, setting out the agenda of the EGM, was sent to Shareholders of the
Fund on 21 June 2002.


KBC Alternative Investment Management Limited          Chris Pugh
                                                       Phone: + 44 207 577 0312

Ernst & Young                                          Roslyn Doran
                                                       Phone: + 353 1 475 0555

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