7 - Dec 08 CAPITAL FOUR CREDIT OPPORTUNITIES FUND 31 Dec 09 M €39M 138.74 30 Apr 1.68% 5.04% 16.31% 17.68% 10.64% 18.32% 7.82% (6.46%) Capital Four Management Team Mar 14 14 May 11 - Nov 11 CHENAVARI REGULATORY CAPITAL STRATEGY - DR 31 Mar 11 O $231M 158.44 31 Mar 0.97% 3.43% 15.19% 36.91% -2.87%