Disclaimers

This information has been prepared on a CONFIDENTIAL basis and is intended solely for the use of the recipient and may not be provided to any potential investors or other party without the express written consent of Hall International Insurance Strategies, LLC. Interests in Insurance Dedicated Funds or Separately Managed Accounts (collectively, “Funds”), are available only to insurance company investors on behalf of certain segregated accounts for owners of variable life insurance and variable annuity contracts.

The information provided herein is provided for informational purposes only.  This document is not an offer to purchase or sell, nor a solicitation of an offer to purchase or sell an interest in the Fund or any other financial instrument.  Any offering or solicitation will be made only to qualified prospective investors pursuant to the offering memorandum, and the subscription documents, all of which should be read in their entirety (collectively, “Memorandum”).

The information and opinions contained in this document are for background purposes only and do not purport to be full or complete.  No representation, warranty, or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in this document, and no liability is accepted as to the accuracy or completeness of any such information or opinions.

The information in this presentation is qualified in its entirety by, and should be read in conjunction with, the information contained in the Memorandum relating to the Fund.  The Memorandum contains important information concerning risk factors and other material aspects of the applicable investments and must be read carefully before any decision whether to invest is made.

All investments involve substantial risk of loss.  Fund portfolios may involve above-average risk of loss and other risks discussed in the Memorandum.  Funds are intended only for qualified investors who can bear the risk of investment losses including the possible loss of their entire investment.  All third-party information contained herein is compiled from sources believed to be reliable; however, funds make not representations in this regard.  Investors should consult with their own legal and tax advisors in connection with his or her decision to make this investment; nothing in this material should be construed as the offering of tax or legal advice or legal or tax opinion.

Pursuant to requirements related to practice before the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used and cannot be used, for purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing or recommending to another person any tax related matter.

Past performance is not guarantee of future results, and the reader should not assume that the future performance of the Fund will equal the prior performance.