es in Partners' Capital 3 Statement of Cash Flows 4 Notes to the Unaudited Financial Statements 5-10 EFTA00301544 ML HERTZ CO-INVESTOR, L.P. UNAUDITED STATEMENT OF ASSETS AND LIABILITIES AS OF DECEMBER 31, 2010 ASSETS Portfolio investment, at fair value (cost $14,141,185) Cash and cash equivalen

at cannot be predicted with certainly. Estimated yields do not reflect any of the costs of operation of ARMOUR. THE INFORMATION PRESENTED HEREIN IS UNAUDITED AND UNREVIEWED. ARMOUR RESII)I \ I I \l RI I I EFTA_R1_02060157 EFTA02698863 ARMOUR Capitalization, Dividend Policy, Transparency and Manager