USA (0.23%) IVORY CAPITAL FLAGSHIP STRATEGY 30 Nov 98 M $1'017M 4,274.33 30 Apr (1.26%) 2.33% 17.07% 10.5% -3.54% 9.88% 5.99% (12.61%) Curtis Macnguyen Mar 14 14 May 08 - Nov 08 IVORY OPTIMAL FUND LTD 30 Apr 05 O $11083M 245.41 30 Apr (1.83%) 3.90% 28.28% 16.41% -4.37% 10.48% 10.77% (

s opposed to overall market exposure ((beta and expects the returns to be derived from both capital appreciation and investment Income. Key Employee Curtis Macnguyen, Christopher Winkler, Mads Jorge All: Mariner Tricadia Credit Strat MBZ 1996 Trust MBZ Crut Credit Long/Short - Tricadia employs a fundamental app