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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 inunediately preceding Accounting Period: each Accounting Period shall close at the close of business on the first to occur of (i) the last day of Millennium USA's fiscal quarter (which shall be the calendar quarter). (ii) the date immediately prior to the effective dale of the admission of a new• Partner pursu
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
stimates and assumptions that the Millennium Management Group believes are reasonable and appropriate, but which may be imprecise and may result in Millennium USA's bearing a larger portion of such expenses than if they were calculated in a different manner. Assets of the Millennium Management Group, including,
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
stimates and assumptions that the Millennium Management Group believes are reasonable and appropriate, but which may be imprecise and may result in Millennium USA's bearing a larger portion of such expenses than if they were calculated in a different manner. Assets of the Millennium Management Group, including,
Entities connected to both Individual Limited Partners and Millennium USA's

U.S. Treasury
ORGANIZATION
New York
LOCATION
Millennium
ORGANIZATIONCayman
LOCATIONMillennium International, Ltd.
ORGANIZATIONThe Master Partnership's Organization
ORGANIZATIONMillennium Partners
ORGANIZATION
the Internal Revenue Service
ORGANIZATIONErnst & Young LLP
ORGANIZATIONKeogh
ORGANIZATIONManagement of Millennium USA
ORGANIZATION
United States
LOCATIONTrigger Event
ORGANIZATIONthe U.S. Investment Company Act
ORGANIZATIONIndependent Public Accountants
ORGANIZATIONMaster-Feeder Relationship
ORGANIZATION
the Cayman Islands
LOCATIONCapital Structure
ORGANIZATIONMillennium USA LP
ORGANIZATIONDeductibility of Interest
ORGANIZATION