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local level. Quarterly reports from the Administrator regarding the AlphaKeys Fund's operations during such period also may be sent to Investors. Classes of Interests in both the Underlying Fund and AlphaKeys Fund, respectively, are Not Separate Legal Entities. Although Investors of the Underlying Fund, including
purposes, Millennium USA may refuse to accept a subscription or may effect a compulsory withdrawal of any such limited partner from Millennium USA. NO OFFERING LITERATURE OR ADVERTISING IN WHATEVER FORM WILL BE EMPLOYED IN THE OFFERING OF THE OFFERED INTERESTS EXCEPT FOR THIS CONFIDENTIAL MEMORANDUM, STATEMENTS CONTAINED HEREIN AND
local level. Quarterly reports from the Administrator regarding the AlphaKeys Fund's operations during such period also may be sent to Investors. Classes of Interests in the Underlying Fund are Not Separate Legal Entities. Although Investors of the Underlying Fund, including the AlphaKeys Fund and certain Other A
ification purposes, Millennium USA may refuse to accept a subscription or may cause the withdrawal of any such limited partner from Millennium USA. NO OFFERING LITERATURE OR ADVERTISING IN WHATEVER FORM WILL BE EMPLOYED IN THE OFFERING OF THE OFFERED INTERESTS EXCEPT FOR THIS CONFIDENTIAL MEMORANDUM, STATEMENTS CONTAINED HEREIN A
local level. Quarterly reports from the Administrator regarding the AlphaKeys Fund's operations during such period also may be sent to Investors. Classes of Interests in the Underlying Fund are Not Separate Legal Entities. Although Investors of the Underlying Fund, including the AlphaKeys Fund and certain Other A
ification purposes, Millennium USA may refuse to accept a subscription or may cause the withdrawal of any such limited partner from Millennium USA. NO OFFERING LITERATURE OR ADVERTISING IN WHATEVER FORM WILL BE EMPLOYED IN THE OFFERING OF THE OFFERED INTERESTS EXCEPT FOR THIS CONFIDENTIAL MEMORANDUM, STATEMENTS CONTAINED HEREIN A
Entities connected to both Classes of Interests and NO OFFERING LITERATURE OR ADVERTISING

United States
LOCATIONthe U.S. Investment Company Act
ORGANIZATION
New York
LOCATIONthe New York Stock Exchange
ORGANIZATIONCayman
LOCATIONErnst & Young LLP
ORGANIZATION
UBS AG
ORGANIZATION
the Internal Revenue Service
ORGANIZATION
U.S. Treasury
ORGANIZATIONthe Underlying Fund Management Fee
ORGANIZATIONBank Holding Company Act Considerations
ORGANIZATION
Paul Volcker
PERSONthe Investor Application
ORGANIZATIONthe District of Columbia
LOCATIONNo Assurance of Investment Return
ORGANIZATIONSchulte Roth & Zabel LLP
ORGANIZATIONAnti-Money Laundering
ORGANIZATIONOrganization, Management
ORGANIZATIONOrganization, Management, Structure and Operations
ORGANIZATIONTrigger Event
ORGANIZATION