1. Jersey Investment Briefings - November 2010 Tom Zambon November 2010 Performance update

2. Jersey Investment Briefings - November 2010 % GrowthYTD1 Year3 Year5 Year Multi Asset Funds Ashburton Replica Sterling Asset Management7.4010.804.0523.72 Sector Average7.1410.461.9021.37 Ashburton Multi Asset Aggressive GBP6.0810.36-7.29- Sector Average 7.7712.69-0.07 - Ashburton Multi Asset Balanced GBP8.7912.192.65- Sector Average7.1410.461.90- Ashburton Multi Asset Cautious GBP6.308.551.16- Sector Average 7.199.496.21 - Equity Funds Ashburton Chindia Equity Fund PC17.5528.98-18.96- Chindia Benchmark 12.9822.79-17.85- Performance - as at end October 2010 Source: Lipper

3. Jersey Investment Briefings - November 2010 Performance Returns vs risk Replica Sterling asset Management Fund and MSCI World Index since 1992 Replica Asset Management Fund Source: Lipper as at 30 Sept 2010 0481216 Volatility Return Ashburton's Replica Sterling Asset Management Fund MSCI World

4. Thank you Active Investment Managers

5. DISCLAIMER Ashburton (Jersey) Limited is referred to in this context as ‘Ashburton’. This document does not constitute an offer or solicitation to any person in any jurisdiction in which Ashburton is not authorised or permitted to communicate with potential investors, or to anyone who would be an unlawful recipient, and is only intended for use by original recipients and addressees. The original recipient is solely responsible for any actions in further distributing this document, and should be satisfied in doing so that there is no breach of local legislation or regulation. The information is intended solely for use by Ashburton clients or prospective clients, and should not be reproduced or distributed except via original recipients acting as professional intermediaries. This document is not for distribution in the United States. Prospective investors should inform themselves and if need be take appropriate advice regarding applicable legal, taxation and exchange control regulations in countries of their citizenship, residence or domicile which may be relevant to the acquisition, holding, transfer, redemption or disposal of any investments herein solicited. Any opinions expressed herein are those at the date this material is issued. Data, models and other statistics are sourced from our own records, unless otherwise stated. Ashburton believes that the information contained is from reliable sources, but we do not guarantee the relevance, accuracy or completeness thereof. We caution that the value of investments and the income derived, may fluctuate and it is possible that an investor may incur losses, including a loss of the principal invested. Past performance is not generally indicative of future performance. Investors whose reference currency differs from that in which the underlying assets are invested may be subject to exchange rate movements that alter the value of their investments. Ashburton (Jersey) Limited (Company Registration No. 26087) is a member of the FirstRand Group, is regulated by the Jersey Financial Services Commission and has its registered office at 17 Hilary Street, St Helier, Jersey JE4 8SJ. Ashburton (Jersey) Limited is registered as a Foreign Investment Services Provider in South Africa in accordance with Section 8 of the Financial Advisory & Intermediary Services Act 2002.