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permitted to do so. II-12 CONFIDENTIAL UBSTERRAMAR00004015 EFTA00239347 FOR EXISTING INVESTOR USE ONLY Business Dependent on Key Individuals; Reliance on Portfolio Managers The success of the Fund is significantly dependent upon the expertise of a number of individuals including certain of those i
ociation and has served on numerous American Stock Exchange committees, including Allocations, Allocation Procedures, Emerging Company Marketplace, Options and Special Allocations. He founded the firm in 1989 with approximately $35 million under management. Mr. Englander graduated from New York University with a BS in Financ
s from the other Feeder Funds' investors, which could adversely affect the value of an investor's interests. Business Dependent on Key Individuals; Reliance on Portfolio Managers The success of the Fund is significantly dependent upon the expertise of a number of individuals, including, Israel A. Englan
ociation and has served on numerous American Stock Exchange committees, including Allocations, Allocation Procedures, Emerging Company Marketplace, Options and Special Allocations. He founded the firm in 1989 with approximately $35 million under management. Mr. Englander graduated from New York University with a BS in Finance
s from the other Feeder Funds' investors, which could adversely affect the value of an investor's interests. Business Dependent on Key Individuals; Reliance on Portfolio Managers The success of the Fund is significantly dependent upon the expertise of a number of individuals, including, Israel A. Englan
ociation and has served on numerous American Stock Exchange committees, including Allocations, Allocation Procedures, Emerging Company Marketplace, Options and Special Allocations. He founded the firm in 1989 with approximately $35 million under management. Mr. Englander graduated from New York University with a BS in Finance
Entities connected to both Reliance and Options and Special Allocations

United Kingdom
LOCATION
United States
LOCATIONthe U.S. Investment Company Act
ORGANIZATION
New York
LOCATION
the Cayman Islands
LOCATIONAccounting Period
ORGANIZATIONSpecial Limited
ORGANIZATION
New York State
LOCATIONCayman
LOCATIONthe Offered Interests
ORGANIZATIONthe Cayman Islands Monetary Authority
ORGANIZATION
George W. Bush
PERSONAllocation of Profits and Losses
ORGANIZATIONthe U.S. Investment Advisers Act
ORGANIZATION
Occidental College
ORGANIZATIONthe State of New York
LOCATION
Ghislaine Maxwell
PERSON
Luxembourg
LOCATION
JPMorgan Chase
ORGANIZATION
Wilbur Ross
PERSON