2. The Momentum Group Alternative Investment Specialists

3. Group History 1986 - Group Founded Offices in London, Bermuda, Hong Kong, Australia and Israel Offer a proven range of funds with defined strategies, risk/return and correlation profiles

4. Group History (Cont.) Products included:- –First guaranteed derivative / hedge fund (1986) –First Japanese guaranteed hedge fund (1988) –First guaranteed currency hedge fund (1989)

5. Group Product Strategy 1991 Momentum fund range launched using: –pre-defined return targets –pre-defined volatility targets 1991 to 2000 Momentum develops complementary range of 20 funds covering the risk:reward spectrum

6. Current Products AllWeather Oasis AssetMaster Sandalwood DebtMaster DebtMaster Excel AllWeather Excel Merger Opportunities Rainbow Universal Hedge US Specialist MacroMaster StockMaster USMaster ValueMaster Low Volatility 10%-15% pa Target Return Limited Capital Market Exposure Market volatility 20%-25% pa Target Return Hedged Capital Market Exposure

7. Momentum The Present Day US$ 750 million under management 20 Fund of Funds 2 Excel Funds

8. Hedge funds come in various guises. They can be aggressive or they can be conservative, matching the profile of the investor.

9. ALLWEATHER For All Markets

10. Objectives 10 - 15% per Annum Consistent Growth Minimal Losses Low correlation to capital markets

11. Consistency AllWeather’s investment managers have been combined to create a portfolio with the best chance of making money in all market conditions AllWeather has shown only three losing months since inception in May 1995

12. AllWeather Is insulated from market fluctuations Is risk averse Is straightforward Is designed for absolute returns

13. AllWeather - The Strategies Momentum AssetMaster Momentum USMaster Momentum Sandalwood Momentum DebtMaster Momentum Oasis Momentum Merger Opportunities

14. Momentum AssetMaster Highly consistent returns Volatility arbitrage 5 losing months in 8 years Short term futures trading

15. Momentum USMaster Long / Short US Equities –General –Sector Specialists Actively Hedged

16. Momentum DebtMaster Asset-backed Lending Limited Market Risk Highly Collateralised Highly Consistent

17. Momentum Sandalwood Event Driven Strategies –Bankruptcies –Workouts –Mergers –Bids Low Market Correlation

18. Momentum Oasis Arbitrage Strategies Low market risk Exploiting mispricing

19. Merger Opportunities Merger Arbitrage Market Independent Deal Orientated Low Market Volatility

20. AllWeather…...Putting it all together Three Losing Months since May 1995 Annualised return 11.31% Volatility 4.00% Sharpe Ratio 1. 578 Strategies:6

21. AllWeather Offers Investors An investment independent to a traditional portfolio Highly consistent returns A high level of comfort An alternative asset class Access to a diversified group of the world’s finest investment managers

22. Strategic Highlights Momentum structures range of diversified macro-economic and specialist equity hedge funds Momentum is unique in its development of a range of hedged products specifically targeting low volatility, absolute returns

23. Why hedge funds? Markets go both up and down –Stocks can be bought or sold short Markets can be volatile –Hedge instruments can trade volatility Markets can be flat –Many instruments are not market dependent

24. Alternative Investment Strategies Tailored absolute return targets Manager skill - not market driven New asset class –Greater portfolio diversification –Reduce portfolio volatility –Protection during market crises

25. “If you start at the right time, buying and holding is great. If you start at the wrong time, it is hell” Michael Goldman

26. Excel For Extra Returns

27. Concept Application of moderate leverage Return enhanced to target 15 - 20 % p.a. Maintains low volatility

28. Comparison

29. AllWeather vs. AllWeather Excel

30. Risk/Return

31. Dealing In order to invest into the Momentum range of funds, application forms and cleared monies must be received 3 working days prior to month end.