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generally be made, subject to audit adjustments, after completion of the audit. If the amount of a withdrawal exceeds 90% of the aggregate value of the Limited Partner's Offered Interests (after taking into account any adjustments made in connection with the audit) immediately prior to the applicable withdrawal date
rtner should not be subject to New York State personal income tax with respect to his share of income or gain realized directly by Millennium USA. Individual Limited Partners who are residents of New York State and New York City should be aware that the New York State and New York City personal income tax laws limit the
e Allocation made to Millennium Management be returned to the Limited Partner. Appropriate fiscal year-end adjustments, if required, will be made to the Limited Partner's Loss Recovery Accounts. After an Incentive Allocation has been made from a Limited Partner's capital accounts, such capital accounts that are part
rtner should not be subject to New York State personal income tax with respect to his share of income or gain realized directly by Millennium USA. Individual Limited Partners who are residents of New York State and New York City should be aware that the New York State and New York City personal income tax laws limit the
e Allocation made to Millennium Management be returned to the Limited Partner. Appropriate fiscal year-end adjustments, if required, will be made to the Limited Partner's Loss Recovery Accounts. After an Incentive Allocation has been made from a Limited Partner's capital accounts, such capital accounts that are part
rtner should not be subject to New York State personal income tax with respect to his share of income or gain realized directly by Millennium USA. Individual Limited Partners who are residents of New York State and New York City should be aware that the New York State and New York City personal income tax laws limit the
Entities connected to both the Limited Partner's and Individual Limited Partners

Luxembourg
LOCATIONthe U.S. Investment Company Act
ORGANIZATION
the Cayman Islands
LOCATIONCayman
LOCATIONthe U.S. Investment Advisers Act
ORGANIZATIONKeogh
ORGANIZATION
the University of Michigan
ORGANIZATIONU.S. Persons
ORGANIZATIONDeductibility of Interest
ORGANIZATION
United States
LOCATIONReliance
ORGANIZATION
United Kingdom
LOCATIONDistributions of Property
ORGANIZATION
New York
LOCATION
U.S. Treasury
ORGANIZATIONthe Cayman Islands Monetary Authority
ORGANIZATIONMunger, Tolles & Olson LLP
ORGANIZATION
New York State
LOCATION
Dalton School
ORGANIZATION
Millennium
ORGANIZATION