Paulson & Co. Statement on FSA Short-Selling Disclosure Ruling

PRNewswire NEW YORK and LONDON September 23

NEW YORK and LONDON, September 23 /PRNewswire/ --

Paulson & Co. (Bloomberg: 573991Z US) empathizes with financial firms as to the difficult positions in which many find themselves. We support the FSA's desire to establish fair trading practices and to eliminate fraud and market manipulation. We will continue to comply with the FSA's requirements.

Paulson & Co. manages a broadly diversified global portfolio and is both long and short many different securities, some of which are financial companies. Our primary objective is to preserve capital for our investors and to show positive returns in all market environments. We do this by going long stocks we think will rise in value and going short stocks we think will fall in value -- in each case based on extensive research on the company and its fundamentals, rather than short-term market movements. Our short positions are taken on a passive basis the success of which will be determined by the merits of the particular company.

Paulson & Co. Inc. is a New York-based investment management firm with approximately US$35 billion under management across merger, event and credit strategies.