Schultze Apex Offshore Fund,

Ltd. Class A

Fund Investment Objectives

The investment objective of the Partnership is to achieve exceptional risk-adjusted capital appreciation through investments in various securities of companies in financial and/or legal distress or which have recently emerged from financial reorganizations or lawsuits. No assurance can be given, however, that the Partnership will achieve its objective, and investment results may vary substantially over time and from period to period. The Partnership expects to primarily target investments in the securities of fundamentally sound companies, which are financially troubled. Typically, these difficulties are the result of events specific to each company or the industry in which the company operates, such as over-leveraging, poor industry conditions, a failure by management to execute a business plan, litigation, or macro economic effects such as currency devaluation. In these situations, the Partnership generally will seek opportunities to purchase securities at depressed prices and capitalize on an increase in value based upon a financial restructuring. These purchases are typically evolutionary within a company's capital structure as initial positions may be increased, often times in different classes of securities.