14 14 Feb 08 - Sep 08 ELEMENT CAPITAL FUND 31 Mar 05 M $4'441M 65.849.58 31 Mar (0.42%) 0.57% 19.44% 2.73% 5.54% 23.28% 9.90% (7.83%) Jeffrey Talpins Mar 14 14 Oct 07 - Apr 08 EPISODE INC. CLASS A 31 Jul 05 O $1'490M 141.32 30 Apr 0.35% 2.87% 6.14% -4.69% 0.98% 4.03% 11.45% (32.77%