Invitational Investors

Retirement Fund, L.P.

Fund Investment Objectives

The Partnership was organized to pool investment funds, and to allocate them among a number of Managers selected in each case by the General Partner. Each of these Managers is expected to have a disciplined policy for risk management and internal controls, and may employ investment strategies involving the purchase and sale of stocks, bonds and other debt securities, convertible securities, limited partnership interests, mutual fund shares, options, warrants, commodities, futures, derivatives (including swaps, forward contracts and structured instruments), currencies, monetary instruments and cash and cash equivalents.