THE RISK OF LOSS IN TRADING COMMODITIES AND / OR SPOT FOREX TRADING CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN COMMODITY TRADING TRADING AND / OR SPOT FOREX TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.

IN SOME CASES, MANAGED COMMODITY OR SPOT FOREX ACCOUNTS ARE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. THE OFFERING MEMORANDUM CONTAINS A COMPLETE DESCRIPTION OF THE PRINCIPAL RISK FACTORS AND EACH FEE TO BE CHARGED TO YOUR ACCOUNT BY THE INVESTMENT ADVISOR ("IM”).

THIS BRIEF STATEMENT CANNOT DISCLOSE ALL OF THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE COMMODITY AND SPOT FOREX MARKETS. THEREFORE, YOU SHOULD PROCEED DIRECTLY TO THE OFFERING MEMORANDUM AND STUDY IT CAREFULLY TO DETERMINE WHETHER SUCH TRADING IS APPROPRIATE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. YOU WILL NOT INCUR ANY ADDITIONAL CHARGES BY ACCESSING THE OFFERING MEMORANDUM. YOU MAY ALSO REQUEST DELIVERY OF A HARD COPY OF THE OFFERING MEMORANDUM, WHICH ALSO WILL BE PROVIDED TO YOU AT NO COST. NOT ANY REGULATORY BODY HAS PASSED UPON THE MERITS OF PARTICIPATING IN THIS TRADING PROGRAM NOR ON THE ADEQUACY OR ACCURACY OF THE OFFERING MEMORANDUM.

CAIM MAY ONLY PROVIDE COMMODITY AND SPOT FOREX TRADING ADVISORY SERVICES IN JURISDICTIONS WHEREIN CAIM IS APPROPRIATELY LICENSED AND/OR PERMITTED BY LAW.