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s. Advisory Sub-Class Interests will be offered only to Investors who are clients of UBS Financial Services Inc. ("UBSFS") who invested through the UBS Institutional Consulting program or another UBSFS investment advisory program as permitted by the Administrator in its sole discretion (an "Advisors, Program"), pursuant t
o of this Confidential Memorandum likewise apply to an investment in Millennium USA and should be carefully reviewed before any investment is made. Different Returns Among Investors in the Master Partnership. Millennium USA carries out its investment and trading activities primarily by investing in the Master Partnership. Mille
ts"). Advisory Class Interests will be offered only to Investors who are clients of UBS Financial Services Inc. ("UBSFS") who invested through the UBS Institutional Consulting program or another UBSFS investment advisory program as permitted by the Administrator in its sole discretion (an "Advisory Program") pursuant to
o of this Confidential Memorandum likewise apply to an investment in Millennium USA and should be carefully reviewed before any investment is made. Different Returns Among Investors in the Master Partnership. Millennium USA carries out its investment and trading activities primarily by investing in the Master Partnership. Mille
ts"). Advisory Class Interests will be offered only to Investors who are clients of UBS Financial Services Inc. ("UBSFS") who invested through the UBS Institutional Consulting program or another UBSFS investment advisory program as permitted by the Administrator in its sole discretion (an "Advisory Program") pursuant to
o of this Confidential Memorandum likewise apply to an investment in Millennium USA and should be carefully reviewed before any investment is made. Different Returns Among Investors in the Master Partnership. Millennium USA carries out its investment and trading activities primarily by investing in the Master Partnership. Mille
Entities connected to both UBS Institutional Consulting and Different Returns Among Investors

U.S. Treasury
ORGANIZATIONthe Federal Reserve System
ORGANIZATIONErnst & Young LLP
ORGANIZATION
UBS AG
ORGANIZATION
United States
LOCATIONCustodian
ORGANIZATION
Millennium
ORGANIZATIONthe Master Partnership or Portfolio Managers
ORGANIZATIONNon-U.S. Investments
ORGANIZATION
the Internal Revenue Service
ORGANIZATIONthe "Intermediate Partnership
ORGANIZATION
New York
LOCATIONthe District of Columbia
LOCATIONMillennium Offshore Intermediate
ORGANIZATIONOrganization, Management
ORGANIZATIONOrganization, Management, Structure and Operations
ORGANIZATIONClasses of Interests
ORGANIZATIONthe U.S. Investment Company Act
ORGANIZATIONSchulte Roth & Zabel LLP
ORGANIZATIONAnti-Money Laundering
ORGANIZATION