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For Immediate Release
April 16, 2007

For more information contact:
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org

NFA orders Brandywine Asset Management, a Pennsylvania Commodity Pool Operator, to pay $35,000 fine

April 16, Chicago - National Futures Association (NFA) ordered Brandywine Asset Management (Brandywine), a Commodity Pool Operator located in Thornton, Pennsylvania, to pay a fine of $35,000 for failure to file annual pool reports in a timely fashion. The fine was part of settlement agreed to by Brandywine. In addition to the fine, Brandywine also agreed, as part of the settlement, to file, by July 31, 2007, all un-filed 2004 and 2005 annual reports for affected commodity pools it operated in those years.

The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in October 2006 and Brandywine's settlement offer. Brandywine neither admitted nor denied the allegations of the Complaint but consented to findings that it failed to meet NFA filing deadlines for annual reports for certain pools that it operated in 2005 and 2004.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.
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