CSS Alpha Fund Ltd. (Class B

USD)

Fund Investment Objectives

The aim of the Fund is to preserve capital and to deliver absolute returns with low volatility, uncorrelated to equity markets. Our approach is to create a diversified portfolio of risk taking in the traded options and futures markets. We presently have four broad trading strategies: spread trading, options strategies, including volatility trading and long/short equity strategies. Class B fees: 2% plus 20%, rises to 3.5% if performance exceeds 1% pm. AUM is not disclosed.