Letters

75 Montgomery Ferry Drive
Atlanta, GA 30309

Cautionary Statement

Portions of the results portrayed herein have not been audited and are subject to adjustment following the audit. The performance shown herein reflects an investment philosophy and methodology similar to that which we would expect to use for the investment of future client portfolios.
Future investments, however, will be made under different market and economic conditions and in different securities and using different investment strategies than were used by the partnership during the time discussed herein. Furthermore, the performance discussed herein reflects investment over a limited period of time.
It should not be assumed that future investors will experience returns, if any, comparable to those of the partnership discussed herein. The information given for the partnership is historic and should not be taken as any indication of future performance.