Offshore, Ltd.

Fund Investment Objectives

Twin Offshore, Ltd. is an investment fund specializing in an active money management style designed to achieve consistent superior investment results relatively independent of the returns generated by the overall equity markets. Its investment philosophy is value and event oriented, specializing in the identification and analysis of securities which can benefit from extraordinary transactions. The fund primarily invests in securities subject to takeovers, restructurings, exchange offers, spin-offs, financial reorganizations and other special situations. These markets have historically provided returns that are transaction specific and therefore largely uncorrelated with movements in other markets. As opportunities present themselves, the Partnership also establishes positions in paired equities, fundamental shorts and value stocks.