und, the "Access Funds") for certain qualified U.S. Tax-Exempt Investors not willing to receive material amounts of UBTI and certain qualified Non- U.S. Investors. The Offshore Access Fund is expected to be a Cayman Islands exempted limited partnership and other than assets used to cover Offshore Access Fund

mited Partner. Those U.S. Tax-Exempt Investors that do not wish to receive any UBTI and are willing to forgo claiming U.S. treaty benefits and Non- U.S. Investors should consider investing in the Offshore Access Fund (as defined below). See "Tax. Regulatory and Certain ERISA Considerations - Certain U.S. Fede

into account as if it were ECI, except that the branch profits tax does not apply. Certain reporting requirements; Reportable transactions. Certain U.S. Investors may be required to file Form 8865. Return of U.S. Persons With Respect to Certain Foreign Partnerships, reporting transfers of cash or other propert

und, the "Access Funds") for certain qualified U.S. Tax-Exempt Investors not willing to receive material amounts of UBTI and certain qualified Non- U.S. Investors. The Offshore Access Fund is expected to be a Cayman Islands exempted limited partnership and other than assets used to cover Offshore Access Fund

mited Partner. Those U.S. Tax-Exempt Investors that do not wish to receive any UBTI and are willing to forgo claiming U.S. treaty benefits and Non- U.S. Investors should consider investing in the Offshore Access Fund (as defined below). See "Tax. Regulatory and Certain ERISA Considerations - Certain U.S. Fede

into account as if it were ECI, except that the branch profits tax does not apply. Certain reporting requirements; Reportable transactions. Certain U.S. Investors may be required to file Form 8865. Return of U.S. Persons With Respect to Certain Foreign Partnerships, reporting transfers of cash or other propert

und, the "Access Funds") for certain qualified U.S. Tax-Exempt Investors not willing to receive material amounts of UBTI and certain qualified Non- U.S. Investors. The Offshore Access Fund is expected to be a Cayman Islands exempted limited partnership and other than assets used to cover Offshore Access Fund

und, the "Access Funds") for certain qualified U.S. Tax-Exempt Investors not willing to receive material amounts of UBTI and certain qualified Non- U.S. Investors. The Offshore Access Fund is expected to be a Cayman Islands exempted limited partnership and other than assets used to cover Offshore Access Fund

into account as if it were ECI, except that the branch profits tax does not apply. Certain reporting requirements; Reportable transactions. Certain U.S. Investors may be required to file Form 8865. Return of U.S. Persons With Respect to Certain Foreign Partnerships, reporting transfers of cash or other propert

54 1.67 2.04% $86,052 Berkshire Hathaway— Hold 109,000 119,202 1.56% $65,183 Berkshire Hathaway— Cash out 109,000 114,101 1.28% $53,450 U.S. Investors 05/24/07 Price 06/30/11 Price Rate of Return Gain on $1 mil Invested Greenlight Capital Re —Hold 19 26.29 8.28% $383,684 Greenlight Cap

FC or PFIC, or in the case of a PFIC require the U.S. Investor to pay an interest charge on the tax associated with distributions or sales of stock. U.S. Investors could also be taxable in whole or in part at ordinary income rates rather than the currently more favorable capital gains rates upon the sale of st

mited Partner. Those U.S. Tax-Exempt Investors that do not wish to receive any UBTI and are willing to forgo claiming U.S. treaty benefits and Non- U.S. Investors should consider investing in the Offshore Access Fund (as defined below). See "Tax. Regulatory and Certain ERISA Considerations - Certain U.S. Fede

und, the "Access Funds") for certain qualified U.S. Tax-Exempt Investors not willing to receive material amounts of UBTI and certain qualified Non- U.S. Investors. The Offshore Access Fund is expected to be a Cayman Islands exempted limited partnership and other than assets used to cover Offshore Access Fund

into account as if it were ECI, except that the branch profits tax does not apply. Certain reporting requirements; Reportable transactions. Certain U.S. Investors may be required to file Form 8865. Return of U.S. Persons With Respect to Certain Foreign Partnerships, reporting transfers of cash or other propert

mited Partner. Those U.S. Tax-Exempt Investors that do not wish to receive any UBTI and are willing to forgo claiming U.S. treaty benefits and Non- U.S. Investors should consider investing in the Offshore Access Fund (as defined below). See "Tax. Regulatory and Certain ERISA Considerations - Certain U.S. Fede

und, the "Access Funds") for certain qualified U.S. Tax-Exempt Investors not willing to receive material amounts of UBTI and certain qualified Non- U.S. Investors. The Offshore Access Fund is expected to be a Cayman Islands exempted limited partnership and other than assets used to cover Offshore Access Fund

mited Partner. Those U.S. Tax-Exempt Investors that do not wish to receive any UBTI and are willing to forgo claiming U.S. treaty benefits and Non- U.S. Investors should consider investing in the Offshore Access Fund (as defined below). See "Tax. Regulatory and Certain ERISA Considerations - Certain U.S. Fede

und, the "Access Funds") for certain qualified U.S. Tax-Exempt Investors not willing to receive material amounts of UBTI and certain qualified Non- U.S. Investors. The Offshore Access Fund is expected to be a Cayman Islands exempted limited partnership and other than assets used to cover Offshore Access Fund

into account as if it were ECI, except that the branch profits tax does not apply. Certain reporting requirements; Reportable transactions. Certain U.S. Investors may be required to file Form 8865. Return of U.S. Persons With Respect to Certain Foreign Partnerships, reporting transfers of cash or other propert

mited Partner. Those U.S. Tax-Exempt Investors that do not wish to receive any UBTI and are willing to forgo claiming U.S. treaty benefits and Non- U.S. Investors should consider investing in the Offshore Access Fund (as defined below). See "Tax. Regulatory and Certain ERISA Considerations - Certain U.S. Fede