(February 23 – 09:45:00) – YMG Capital Management Inc. is reporting net income of $2,041,000 for the year ended December 31, 2000.

Earnings before interest, amortization and income taxes, excluding unrealized appreciation on investments and venture investments amounted to $5,093,000 for the year 2000, says YMG, compared with $4,066,000 for the year 1999.

Revenues from management fees of $16,804,000 increased 17.9% from $14,254,000 in 1999. Mandates from new clients and expanded mandates from existing clients accounted for half of this increase.

The remainder is the result of the acquisition of Nisker Associates, Inc. at the end of 1999 and AlphaQuest Capital Management Limited in July 2000. Assets under management were $14.1 billion at December 31, 2000, compared to $11.7 billion at December 31, 1999.

YMG reported a net loss of $252,000 for the quarter ended December 31, 2000. The net loss during the quarter reflected a correction of $475,000 that was made to the opening future
tax asset on the balance sheet.

Earnings before interest, amortization and income taxes, excluding unrealized appreciation on investments and venture investments amounted to $1,070,000 for the quarter as compared with $886,000 for the same period during 1999.