EFTA01511554.pdf

03 2003 JPMorgan Chase Bank 345 Park Avenue, New York, NY 10154-1002 II3 JPMorgan Private Bank Account Number: Asset Account Portfolio Page 11 of 12 FINANCIAL TRUST COMPANY, INC. March 01, 2003 - March 31, 2003 IMPORTANT INFORMATION ABOUT PRIVATE INVESTMENTS: FOOTNOTES 1 • 3 Prhak Equity Hedge Fonds Ei'chenge Funds Real Estate and Other Marne!~ Assets I Diet? onve,eepoty.orostrrente &Id pooled pemoteovestments(eg, *Wrests in Amited paelneesnia and inMediat“ity OnnpaneirieregeneeadoMquel sec.:~ Yates we estimatesCMend re not ~ranted Ice aCCurtCyOr COMpleknem Yeti/6900nel rapt/Meet the actuartettro at *MC* beteatttona Or neurefeeewld be bOuglit Or *Oki a new trensectens Conti he entered into a Pie attn./terms On whet, .hatn2DansaClauCeubi be k(NdeekleS Or theOW.90f the stehoniwO Died pnaeepmy uwestmenn are generatysa• d✓ Cast ',Ness Owe .s an (Kt eseecondarytrachng market v)tte secuntes m warn alte dame, sornateequty awesImmts an raked ubng nwlief prices as ar Me cane of tok kol Naiades clay la Me Stelenent prod Pooled ;wreak eq Lary irr,tatments are vaAted scenting to the GenevalPartner'sce Manage, ' Mated methOzlokqy In game& pool.d "ate eqinfy investrrerrts bon...der Cent °On, a spnlicant snits!~ event occurs when mendatne ~Mono( the investment TIM ‘aAmbon reath0O0109P4 9eraeMYnciodo an aPinmselol unclehrr4 mats at the ton4v coot n a nil nleholonn amonnt at a valueof which Mrs party financing has occumod at ro motel pm* it ran actwo secondary market deveAsps. n at e vat» CaM/toted by an indopondent bkly Finn rater to the &Wed petnrsh‘o agreement. Myriad 4~1ycompany oproommt a other Oh ION(nIOCurnentalon Oth nwestrnont la me spec bc vetoing, torethechtey used by the Greed Pwtnot ce Manager tor mar irNoarnont lAngano.pinalydaclikma any rospcnateyke WM* ~Jaya!~ inkernabon end the mamakkgy used try Me GonerelPaitnerce Ma/again downgvalualons. (2)•nyorroa or oehusrons in =m(el»; deSenmatnt; the vektebons ard ()tennis° le when tho velohons se put ~whom orspronded k. mlorrration purposes cosy and ire Wended salonfor yat own use Hedge funds gerwa0ycakubb the ace (the Wet Asset Value-or • NAY' 10-15 busnets days todoweig the last business day ol We month For that tea:ow, hedge fund NAYS shown tbenwsOybe the NAV or the month parody Mrs sivenen! peal in general Me NAY ,s stake) net of mer tand ncentheloes The NAY as cakubled accordng b the GoncealPartners a Manna's stakl rrethcdoegy Pleasetake to lue dented pertnees/upogreemstt hinted Aebetycompany agreement a other °native documentation for each hedge turd tented specific valve:on methodology used by Me GenealPattnn Manager for that hedge fund Mown expecosh.chselsons any responsebay fee MP* ecancyof the ifilermeten and the methodologyused by the Gamed Partneece Manner vi dceenrqsatuabons (2) anyetrors or ~sat: in compare cc daseennany t e vakabons and (3)any use to vøhcft the yaluatonstee put Yektabons wepewndad for tnfcrrnetten purposes only and are Wended sob/yid,/ your own use Foe ExchangeFunda the puce (Me Wet Asset VaIve-or WAV,includes Me we any nonaketabilesecuribta that be valved n'a~ vs", a fee vatuernelhodotogy emverel by led board of the Manager The Wet Asset Veit;eUSD' kneels the Anent Omit used to finance Me nOhrodone4etneoectmOes. the nownarkebibtesecunbes end Ine snap connects used to innate the ~rest rate nak between the karmarateon the One of GreMt and the toed mite of time non-nwliefeffieseasstreo The Fad Can drew Donn on The syle of ore« b heyotheh 'o end mone9ement lees at startup a in Me even: Mal the dn.:lend aKome from me underlYing secvnties Gannet pay the exPenaeaOf Me Fund This sfert"*"t does not provide tav teedtbn9 OnPint* irnesimehls Seale COnbnwel0 ray upon Me Generel Penner Co beahttoer of the hreefrnent oehiCk, tor this entanten Pones some of *0th Ore roweled by peeing ~noes a Niue sources ahch no seen ,enahO ere rot guwactoed la accuracy a as real:oak values 2 Tr. Canto, Coned Sete Mcophon 1)50 end toM/Secumyddetnttons Stnco /ncopsen USG,' oakum: WO updated mOttnty to rehect Deal>, (eaptel can and d‘SetubOnS) lacy 3 Hedge funds generaayalbw sutacripton3 on a rhonlnly a querkrh boos You nwestma hedge fund a hedge fund of funds es generalya, el the fist buenets day el the sobsa.ption period Due b early funding ma Leements by ten appbcabie land pour account may be debited !Of The svtaceipbon anedl prof to Me strbscripton date Peesetefw to the ao~o hedge huds OPefa,nedGCOnentabOn,Or fartha detis Confidential Treatment Requested by JPMorgan JPM-SDNY-00037382 Chase CONFIDENTIAL SDNY_GM_00306580 EFTA01511554