Walbert Fund

of Funds I L.P.

Fund Investment Objectives

The investment objective of the partnership is to seek to achieve capital appreciation by investing the partnership's assets with a select group of money managers with past money management experience who are managing emerging pools of capital primarily of an equity-related nature. The strategies of the money managers will be diverse and may include, without limitation, long/short growth, long/short value, technology, market neutral and event driven. The money managers selected by the general partner will use little or no leverage in their funds. The general partner utilizes a collection of 35 different criteria in evaluating and selecting money managers.