Corbin

Opportunity Fund

Fund Investment Objectives

Corbin Opportunity Fund, L.P. (the "Fund") seeks to achieve a substantial return on capital with moderate volatility, through opportunistic investments, principally in the credit space. The investment strategy is implemented largely through separately managed accounts or by investing directly in holding companies or newly created entities but the Fund may also include allocations to hedge funds and other vehicles. Disclosure: Performance figures shown in this presentation for Corbin Opportunity Fund, L.P. (the "Fund" or "COF") for January 1, 2010 and thereafter represent the actual performance of the Fund, net of fees (a 1.00% per annum management fee and a 10% incentive allocation) and expenses. Performance figures for the Fund shown in this presentation from December 2008 - December 2009 represent the trading results of the Fund, net of expenses and net of a pro-forma 1.0% per annum management fee and 10% incentive allocation, as the Fund was not subject to fees from December 2008 - December 2009. For the period of December 2008 through December 2009, the Fund does not intend to provide audited financial statements. Performance is presented net of expenses and includes new issue income, the reinvestment of dividends, gains and other earnings. Figures as presented may include slight rounding errors. All figures above which take into account the current month's performance information are estimated and monthly figures are not audited. Each investor's rate of return may vary from this performance due to the timing of capital transactions as well as their new issues status. Past performance is not necessarily indicative of future results.