Fund's investment committee to make all portfolio investment decisions and will not have the opportunity to Independently evaluate any Investments. Limited Liquidity; Illiquid Investments An Investment in the Fund will be highly illiquid and requires a long term commitment, with no certainty of return. GTIS antic

Fund's investment committee to make all portfolio investment decisions and will not have the opportunity to Independently evaluate any Investments. Limited Liquidity; Illiquid Investments An Investment in the Fund will be highly illiquid and requires a long term commitment, with no certainty of return. GTIS antic

RIN II •094 Alpha Group Capital LLC RISKS RELATING TO THE PREFERRED SHARES Limited Liquidity and Restrictions on Transfer There is no established secondary market for the Preferred Shares, and it is not expected that any secondary market for

e Other Interests. See CERTAIN RISK FACTORS -15- CONFIDENTIAL UBSTERRAMAR00003877 EFTA00239209 FOR EXISTING INVESTOR USE ONLY — Other Interest; Limited Liquidity below. CAPITAL ACCOUNTS The AlphaKeys Fund will maintain a separate capital account for each Investor, which will have an opening balance equal to

r Partnership as of the date immediately prior to his death and therefore will be included in the calculation of net asset value of Millennium USA. Limited Liquidity. Other Interests generally are significantly more liquid than the Offered Interests. For instance and without limitation, unlike the Other Interests