NOTICE CONCERNING FORWARD LOOKING INFORMATION

This website contains illustrative returns, estimates, beliefs and similar information ("Forward Looking Information"). Forward Looking Information is subject to inherent uncertainties and qualifications and is based on numerous assumptions, in each case whether or not identified herein. Forward Looking Information is provided for illustrative purposes only and is not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Noctua Group of Funds. Some important factors that could cause actual results to differ materially from those in any Forward Looking Information include changes in interest rates, or domestic and foreign business, market, financial, political and legal conditions. There can be no assurance that any particular Forward Looking Information will be realized, and the performance of the Noctua Group of Funds may be materially different from the Forward Looking Information. The Investment Adviser is currently not registered as an "investment adviser" with the Department of Corporations in the State of California, U.S.A. (the "Department of Corporations"), but intends to register with the Department of Corporations as an "investment adviser" in the near future if it is determined, after consultation with legal counsel, that such registration is required. Following such registration, the Investment Adviser intends to charge the Noctua Group of Funds customary management fees and receive a customary incentive allocation. Any Forward Looking Information is qualified in its entirety by, and subject to, the preceding paragraphs, whether or not a matter covered by any such paragraph is covered in the immediate context of the statement of such information. Moreover, any such information should be considered in conjunction with all the other information contained in this Memorandum, including the information contained in "Risk Factors."