GettinG into the Spirit

and bring them directly to our private clients on an exclusive basis.

With a solid reputation and unrivaled network of supply, our private clients have access the most sought after and lucrative opportunities in the whisky market. Our investment portfolios are tailored by the markets leading experts and consist of investment grade whiskies, limited edition bottlings and private cask offerings from the likes of The Macallan, The Dalmore, Bowmore and many more.

Single malt whisky is fast becoming Asia’s leading liquid investment showing returns that have outperformed all the more traditional investments, including stocks & shares, managed funds & even property.

Established to meet the ever growing demand for single malt whisky, GSM is the preferred hub for securing and trading whisky in Asia’s rapidly expanding and highly lucrative market. From our head office in Hong Kong and trading office in Shanghai, GSM’s regional network allows us to identify the best-performing whiskies

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A Look At the MArket

In 2008, the (WH) Index was introduced to track the performance of single malt whisky at auction. Since 2008-2012, the prices of the top 100 whiskies have increased in value by 242% and the top 10 by a phenomenal 381%. This spectacular rise outstripped some of the best performing investments, including gold, which appreciated by 146% over the same period.

The market is showing astonishing returns and GSM provides a successful, rewarding diversification from a more traditional investment portfolio.

However, since the late 90’s the demand for the world’s luxury spirit has exploded globally, particularly in countries like Russia, India and especially China. Since the turn of the century, sales in China alone have risen from HK$10 million (US$1.3 million), to over HK$1 billion (US$129 million) per annum. This figure is rapidly on the rise as the Chinese Government forecasts sales to rise a further 100%+ in the next three to five years. This impact will ensure prices continue to rise to all time highs as the very limited vintage stocks diminish.

truSted AdviSorS

In 2012, he received commendations from Alex Salmond; Scotland’s First Minister and became the youngest person in history to receive the industry’s most prestigious award, ‘The Keeper of the Quaich’. The award was given in recognition to his outstanding services to the Scottish whisky industry and this influence allows us to source the most sought after and exclusive whiskies in the market.

Together with a team of market analysts and industry experts, GSM’s Chief Whisky Adviser is Steve Notman; Scotland’s Ambassador to whisky in China and judge at the World Whisky Awards and Wine & Spirits Competition here in Asia.

Steve actively works with the Scottish Government, the SWA and leading Scotch whisky brands specifically on whisky mentorship, protection and training.

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We provide you with market updates, portfolio assessments and advice regarding the development of your whisky portfolio. Our exclusive portfolios consist of some of the finest, rare and unique whiskies from Scotland’s most prestigious distilleries. The whiskies are all proven performers at

auction in Asia and represent the ultimate liquid investment.

We aim to provide you with a diverse range of investment opportunities, ranging from short (1-3 years) and medium (3-5 years) to long term holds (5-10 years).

MAnAGinG your inveStMent

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trAdinG

even greater success. GSM’s Private Client Department will assist in arranging the necessary paperwork for auction and in identifying the highest prices in the market to trade their portfolio.

Auction fees typically work out at around 15%-20%.

Alternatively, clients can utilize GSM’s in-house trading division where stock can be sold privately with a brokerage fee of 10%. This strategy has proven to be an extremely efficient trading platform for existing clients and one that is exclusive to GSM clients.

Partnered with Bonham’s Hong Kong, private clients in Asia are now in a position to benefit directly from this rapidly expanding and highly lucrative investment market.

Bonham’s is one of the world’s leading auction houses and have achieved great success in launching single malt whisky into Asia. In 2010, Bonham’s broke new ground by hosting the region’s first ever whisky auctions and by the following year these groundbreaking auctions started to gain huge momentum.

Many of the whiskies traded at the Bonham’s auctions have yielded returns in excess of 50% -300% above their estimated highs and GSM believe that 2012 is set for

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To ensure complete security of your investment, we ensure that all whiskies are registered directly into our clients name and stored and insured at either London City Bond in Scotland or at one of our professional facilities here in Asia.

Storage and insurance fees are very minimal and amount to approximately HKD$300 per case (12) per annum. Approx… CNY $240 / SGD $47 / TWD$ 1,129 / AUD$ 36.

StorAGe And inSurAnce

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Whisky Investors Cheered by Rise in ValuesJane Bradley, The ScotsmanSunday 29 January 2012

“Three-year figures reveal that an investment in the 100 best-performing whiskies in 2008 would have risen by 163 per cent in 2011, while gold – which has soared due to the recession – rose 146 per cent. Diamonds rose by just 10 per cent, while shares and crude oil stock values fell.”

http://www.scotsman.com/scotland-on-sunday/scotland/whisky_investors_cheered_by_rise_in_values_1_2084366

Whisky Set for Golden DecadeDominic Roskrow, The Whisky Tasting ClubDecember 30, 2011

“I think that whisky certainly has the ability to not only increase in value tenfold, but twentyfold in the coming decade. Ten years ago if a distillery came out with a bottle for, say, £1000, people thought this was crazy, but today expressions are selling to from £5,000 to £20,000 pounds and selling.

“I would say that Scotch has certainly proved itself with this. Let’s look at the original ‘Black Bowmore’ when it came out in the early 90s, it cost about £200. Today a bottle sells for £3000- £4000.”

http://thewhiskytastingclub.co.uk/Blogs/domblog/2011/12/30/whisky-set-for-a-golden-decade/

Liquid Gold: Why Whisky Investments Can Hit the SpotJames Longman, USA TodayDecember 17, 2011

“Fine whisky has been part of Scotland’s heritage for more than 500 years, but it is only recently that investment opportunities have opened up for its most famous export. With global demand for luxury whisky on the rise, putting your money into rare bottles of Scottish single malt could make you some pretty neat returns.”

http://www.usatoday.com/money/industries/food/story/2011-12-18/cnbc-whisky/51911208/1

A Palatable Alternative Investment Market Andy Simpson, Investing in Whisky & ChampagneDecember 2011

“If you’d bought the current best performing 250 bottles of whisky in 2008 (at auction in the UK) they would have cost £42,508. In today’s market they would be worth £94,884, an increase of 123.21 per cent. If you’d done the same with the top 100 bottles, the increase is 162.96 per cent and the top 10 would have gained by 297.62 per cent, according to the Whisky Highland index.”

http://www.ftadviser.com/2011/12/05/investments/alternative-investments/whisky-a-palatable-alternative-investment- market-6NGTKARuUR0p4Eg2IbilLK/article.html

preSS reviewS

Q: What defines an investment grade Single Malt Whisky?

A: To be regarded as an investment grade whisky, a single malt requires all or most of the following attributes:• a strong brand recognition and consistent global demand• a consistent upward price movement beyond a minimum set return • produced from a single cask limiting its quantity to a maximum of approximately 500 bottles

Q: Why whisky?

A: Investing in malt whiskies makes sense. There’s a strictly limited supply – there are only a small number of investment-grade labels, and their production levels are extremely limited. As interest in single malts continues to grow, there are also a growing number of high-net-worth individuals around the world seeking to own and/or drink them.

The whiskies that GSM can connect investors to are improving assets. Single malts are cask-aged is aged in the cask it becomes more desirable and therefore more valuable. At the same time, once the whisky is bottled it’s consumed making it even rarer, which in turn adds yet more upward pressure on prices.

Q: How do I monitor my investment?

A: Your Portfolio Manager at GSM will guide and advise you in making strategic investment decisions. Investors are kept up to date with all market activity and advise when to buy, sell or hold your whisky investment. We provide an ongoing advisory service throughout the term of the investment and charge no management fees.

Q: How much do I need to invest in a portfolio of single malt whisky?

A: You can invest as little as HKD$50,000 for a small portfolio containing some very exclusive bottles. However, a recommended minimum investment level of around HKD$200,000-HKD$500,000 will get you started with a perfectly balanced portfolio.

Q: So why invest in Single Malt Whisky?

A: There are numerous reasons why whiskies make for a great investment opportunity.• The top 10 whikies have seen a rise in of 381% since 2008• The top 100 whikies have seen a rise in of 242% since 2008• There is a thriving – and growing – auction market • There’s a decreasing availability as assets are consumed• It’s a tangible, high-yielding, low-risk asset • High, increasing demand coupled with minimum stress

Q: How do I get involved?

A: Carefully review the facts and figures, make a note of any questions you may have and either call our trading room on HK +852 3752 8178 or send an email to info@globalspiritmerchants.comAlternatively, clients are welcome to make an appointment to come into our Whisky Lounge in Hong Kong for a private presentation and portfolio selection. The Whisky Lounge can be reached on +852 3752 8178.

QueStionS And AnSwerS

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Global Spirit Merchants Ltd

t: +852 3752 8174e: info@globalspiritmerchants.com

2301 Kinwick Centre32 Hollywood RoadCentralHong Kong

w: www.globalspiritmerchants.com