Amaranth Advisors LLC

Compass Lexecon was retained by David Mollon, Mike Philipp and Steve Senderowitz of Winston & Strawn LLP to evaluate the statistical analysis contained in a staff report of the United States Senate, Permanent Subcommittee on Investigations concerning “Excessive Speculation in the Natural Gas Markets” which concluded that “the larger than usual differences between winter and summer [natural gas] futures prices that prevailed during the spring and summer of 2006 were largely the result of Amaranth’s large-scale trades….” As reported in The Wall Street Journal, Compass Lexecon’s report authored by Senior Vice President David Ross concluded that the staff’s conclusions were based on spurious correlations and incomplete data analyses and found that when proper methodology was used, the data did not support the staff’s conclusions. Daniel R. Fischel has also been retained by Amaranth and publicly disclosed as an expert in connection with ongoing litigation.