Epstein Secrets

TOP OPPORTUNISTIC INVESTMENT THEMES FOR 1Q 2012 Global Investment Opportunities Group J.P. Morgan Private Bank w O LLz O a cr, This presentation is intended for your personal use only and should not be circulated to any other person without our permissi

e or sale of any financial instrument. The investment strategies and views expressed herein may differ from the opinions expressed by other areas of J.P. Morgan. including research. Past performance is not reliable indicator of future results. Please read the Important Information at the end of this document

is not intended or written to be used, and cannot be used. in connection with the promotion. marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Each recipient of this presentation, and each age

earch In-house asset class experts 3rd party investment professionals Macro view Client expertise J.P.Morgan EFTA_R1_02049747 EFTA02696369 Investment Opportunities TOP OPPORTUNISTIC INVESTMENT THEMES FOR 1O 2012 J.P.Morgan EFTA_R1_02049748 EFTA02696370 Fundamentals Globalization of Natural Gas a CC CO

and commercial bank. In 2006, he was recognized as the Capital Markets CIO of the Year by Bankers Magazine. From 1992-2001, Mr. Torgovnik was with JP Morgan in a variety of technology roles within their Fixed Income Derivatives business, including Global Head of Fixed Income Derivatives Technology and F

s Commission, The Center, 99 Queens Road Central, Central Hong Kong, Tel. +852 3965 3222. • Millennium Capital Management (Singapore) Pte. Ltd. ("MCM Singapore"), a wholly-owned subsidiary of Millennium International Management, which is licensed by the Monetary Authority of Singapore, 80 Raffles Place, UO

n favor of investors in the Fund. Allocation of Investment Strategies and Investments to and Among the Feeder Funds and Other Accounts; Conflicting Investment Opportunities; Cross Transactions In addition to the Feeder Funds and certain related entities through which the Portfolio Managers invest, Millennium has establ

remains the Chief Executive Officer of Capital Trust, Inc. Prior to joining Capital Trust in 1998, Mr. Plavin was co-head of Global Real Estate for The Chase Manhattan Bank and Chase Securities Inc. During his tenure at Chase, from 1984 to 1998, Mr. Plavin also led business units responsible for commercial real estate l

nner, there is no assurance that any such conflicts will be resolved in favor of the Partnership. (See also "—Other Blackstone Funds; Allocation of Investment Opportunities; "Investments in Which Other Blackstone Funds Have A Different Principal Investment" and "—Other Real Estate Funds" below.) In the case of acquisit

of making a personal profit (or incurring a personal loss). The ownership structure of MCP UK may change from time to time without notice. Each of MCM Singapore, MCM FIK, and MCM Asia's Tokyo Branch (collectively, the "Asia Entities") is owned by Millennium International Management. The capital to establish

icts in a manner that is fair and reasonable. Allocation of Investments to and Among Feeder Funds, Related Accounts and Other Accounts; Conflicting Investment Opportunities; Cross Transactions Although at present Millennium's only clients are the Master Partnership, the Feeder Funds and certain related entities through

of making a personal profit (or incurring a personal loss). The ownership structure of MCP UK may change from time to time without notice. Each of MCM Singapore, MCM FIK, and MCM Asia's Tokyo Branch (collectively, the "Asia Entities") is owned by Millennium International Management. The capital to establish

icts in a manner that is fair and reasonable. Allocation of Investments to and Among Feeder Funds, Related Accounts and Other Accounts; Conflicting Investment Opportunities; Cross Transactions Although at present Millennium's only clients are the Master Partnership, the Feeder Funds and certain related entities through