Alternative Investments

Institutional, Ltd.

Fund Investment Objectives

The Alternative Investments Institutional Master Fund, Ltd is designed for U.S. tax-exempt and non U.S. investors, including endowments, foundations and retirement plans. The Fund's objective is to earn attractive rates of return by allocating assets among a variety of highly talented and motivated managers. The Fund seeks to protect capital in down markets, earn attractive absolute returns in strong markets and outperform broad equity market returns at a lower risk level over a full market cycle.