Wexford Credit Opportunities

Fund, LP Class A

Fund Investment Objectives

Wexford Credit Opportunities Fund, L.P. (the Fund), a Delaware limited partnership, is a multi-strategy, credit oriented fund focused on high-yield and distressed debt and special situations equity that utilizes a flexible strategy in an effort to maximize total returns throughout the complete credit cycle, while minimizing drawdowns. The Fund invests primarily in debt and equity securities and bank loans. Our view on the timing of the credit cycle guides our investing emphasis. In periods of excess market liquidity and complacency, the Fund seeks to position itself in lower risk, coupon paying securities such as performing high yield bonds and leveraged bank loans, as well as special situations equities. During periods of market illiquidity and stress, the Fund seeks to generate attractive returns by investing in distressed situations, particularly opportunities the Investment Manager deems to be of deep-value, out-of-favor or overlooked. The success of the Fund's investment strategy will depend on the Investment Manager's ability to anticipate the timing of the credit cycle and to locate attractive investment opportunities consistent with the Fund's strategic goals during both the upward and downward swings in the credit cycle. The Fund takes both long and short positions, maintains low-to-moderate volatility, utilizes limited leverage and seeks to maintain broad diversification at all times. The inception date for this fund is December 6, 2002. The historical performance from inception through December 31, 2006 reflects an annual management fee of 1.5% and from January 1, 2007 through June 30, 2009 an annual management fee of 2.0%. As of July 1, 2009 the Fund is only offering interests in Class A, which is subject to an annual management fee of 1.5%.