ing Millennium Global Estate, have different liquidity terms than Millennium USA. (See "Certain Risk Factors Relating to an Investment in the Fund; Business and Structural Risks—Possible Effect of Withdrawals and Redemptions" in Part Two of this Confidential Memorandum.) DOC ID- 29147063.5 1-23 CONFIDENTIAL UBSTERRAMAR00003954 EFTA00239286 FOR EXIS