Investment Manager Harvest Financial Services Ltd Regulated by the Cyprus Securities and Exchange Commission

License Number 02103 ndashMember of the Investor Protection Fund (TAE)

Harvest Stargate Fund Ltd Registered and Regulated by the Central Bank of Cyprus

As an international Collective Investment Scheme Law No 47 (1) of 1999 (ICIS)

OCTOBER 2012 (V4EN)

CONTACT Telephone + 357 22 552800 andyharvestgroupcomcy

This document is for informational purposes only This document does not constitute an offer an invitation to offer

or a recommendation to enter into any transaction nor does it constitute investment advice This material does not constitute a solicitation to buy or sell securities in any jurisdiction

in which such a solicitation is not authorized or to any person to whom it is unlawful to make such a solicitation

2

Executive Summary

Fund Structure Indicative Summary Terms

Final Maturity bull Open Ended investments Unlimited holding period Minimum Holding two Years

Currency bull EUR or currency equivalent on the subscription date

Principal Protection

Provider

bull Some underline assets bear the principal protection of the issuer of the underline

assets The fund therefore offers soft capital protection only on selected underline

assets that bare issuers guarantees

Form bull Shares ndash ICIS UNITS

Notional bull [] MM minimum 1MM

Issue Price bull NAV

Redemption Amount bull The shares will be redeemed on the NAV

bull The Shares may be redeemed prior to that on a monthly basis after year 2

bull Share Price (t) ndash Early Redemption Premium whereby the Early Redemption

Premium is initially 4 and then decreasing by 1 on each anniversary of the Issue

Date until reaching 0

Additional Investments bull Investors will be able to subscribe additional amounts in the fund on a monthly

basis with rounds of 10000 EURO

Initial Allocation into

the Underlying Fund

bull The Initial Allocation of the Issuer to the Underlying Fund will be equal to 100

thereafter the Trading Administrator will adjust the allocation between the assets of

the Issuer in accordance with the Rebalancing Rules

Investment Manager bull Harvest Financial Services Ltd -

Transaction Fees

bull Investment Manager Fees 20 annual management fees on NAV and an incentive ndash

performance fee of 20 of annual returns in excess of 10

3

Risk Statements

Investment Horizon The fund has a minimum holding period of 2 years with unlimited duration Investors must maintain

capital for this period

Non-Reliance on Historic

Returns

Past performance does not guarantee future performance investment in the fund should be based upon

a complete assessment of their terms

Limitations of Simulated

Returns

Certain presentations and back-testing or other statistical analysis materials that may have been

provided in connection with explanations of the mechanics andor potential returns of the Notes use pro

forma analysis and hypothetical circumstances to estimate how the Reference Portfolio may have

performed prior to its actual existence Harvest provides no assurance or guarantee that the Notes will

operate or would have operated in the past in a manner consistent with those materials As such any

historical returns projected in such material or any hypothetical simulations based on this analysis

provided in relation to the fund may not reflect the performance of and are no guarantee or assurance

in respect of the performance or returns of the fund

Non-Linear Returns Absent the occurrence of a Knock Out the return on the Notes will be based on the performance of the

Reference Portfolio over time As such it is not possible to predict the return on the fund simply by

reference to the initial and final values of the Reference Portfolio The application of the Fundrsquos

Mechanics may result in an opportunity cost when the return on the fund is compared to either a direct

investment in the Reference Portfolio or as the underline assets principal protected investment where

the exposure to the Reference Portfolio is achieved through a conventional call option issued by the

product providers

Clean Up Event If there is a significant reduction in either the value of the Reference Portfolio or shortly after issuance

of the fund a rapid decline in interest rates a Clean Up Event may occur Under both such

circumstances the return on the fund will cease to offer any potential capital gain as a function of the

future performance of the Underlying Fund and will effectively become that of the remaining asset

classes

Credit Risk The value of the fund may decline dramatically based on market conditions Investors understand that

there are risks involved and capital may decline due to market conditions and valuations Past

performance is not guaranteed for future returns

Disclosure of Investor

Identity

It may be required for purposes of the Investment Managerrsquos compliance procedures to disclose to the

name of the initial investor in the fund

LIMITED OFFER

4

Table of Contents

Benefits of the Harvest Stargate Fund Ltd Summary A Multi-Asset Fund offering several key Advantages

The Benefit of Investing in International Collective Investment Funds (ICIS)

Given the recent volatility in stock markets worldwide we wish to give investors an update on the benefits of holding

ICIS as part of a balanced and diversified portfolio

The Harvest Stargate Fund Ltd offers individual investors access to a unique multi-asset multi manager investment

methodology usually only used by sophisticated institutional investors The fundrsquos objective is to deliver returns in

excess of those offered by traditional investment funds by the careful and active allocation of the portfolio across

three key asset classes combined with the active selection of the best performing underline fund managers The fund

provides diversification-the foundation of a successful portfolio The fund invests in three strategies each managed

by a leading specialist manager

Investing in just one asset class carries with it a higher degree of risk and the Harvest Stargate Fund Ltd adopts an

active asset allocation policy that ensures the fund invests across a spread of asset classes that offer the best risk

adjusted return In addition Harvest Stargate Fund Ltd and its advisors Harvest Financial Services Ltd aim to select

the best performing funds for each asset class which are then analyzed on an ongoing basis

NEW ISSUE OCTOBER 2012 ndash LIMITED OFFERING

5

Introduction

The

Manager

Harvest Financial Services Ltd is a leading investment management company based in Nicosia

Cyprus Harvest Financial Services Ltd was established in March 2000 by Harvest Advisors Ltd as

a spin-off from Harvest Financial Group Harvest Financial Services Ltd is regulated by the Cyprus

Securities amp Exchange Commission with license number 02103

Harvest Financial Services Ltd provides a wide range of mutual funds hedge funds and portfolio

management advisory services Its investment team has over 14 years experience in

Tailored portfolio construction- the construction and management of diversified high quality fund

portfolios tailored to the needs of private and institutional clients

Distribution of Hedge Funds- the distribution of a wide range of fund of hedge fund products for

both the institutional and retail markets

Structured Products ndash the structuring and management of products linked to hedge funds

Traditional Investment portfolio Management ndash The construction and management of traditional

predominantly long short portfolios

6

HARVEST STARGATE FUND LTD- BENEFITS

RISK MANAGEMENT PERFORMANCE - RETURN

RISK MANAGEMENT COMPANY SELECTION COMPLIANCE

Reporting

RESEARCH

7

Competitive Fund

Management

Integrated Fund Management

Harvest Financial Services Ltd Managerrsquos Style

8

THE IMPORTANCE OF ASSET CLASSES

The

Fund

The most popular traditional asset classes are cash bonds equities real estate

futures forex and energy hedge funds Harvest Stargate Fund Ltd combines these

asset classes with the exception of cash in order to create the next generation of

multi asset Global Macro investments

The different asset classes will perform their best at different stages of a normal

investment cycle When building a portfolio it is therefore essential that it should not

only be spread between different asset classes but should also make an allocation to

the asset class that is likely to provide the best return in the following year Whilst

equities may be rising bonds or property could be falling and when equities fall

hedge funds could perform well

The Stargate Fund is an aggressive market neutral fund with a return objective of 10-

15 annually with a standard deviation of approximately 4-7 It allocates capital

among managers who have stated investment objective of returns in excess of 15

per annum It is expected that the fund will have higher than average volatility but

through diversification of strategies can mitigate drawdowns during bear market

environments In positive market periods the fund should produce returns above

market benchmarks

HIGH RETURNS POTENTIAL

9

INVESTMENT FOCUS GEOGRAPHIC AREA

Scientists recently discovered a massive offshore reserve of an estimated 122 trillion cubic feet of

natural gas called the Levant Basin Province While it is one of the worlds richest natural gas reserves

the Levant Basin Province is located between countries with endless amounts of mutual hatred It

straddles the sea borders of Israel Lebanon Palestine the Republic of Cyprus The largest section

discovered so far the Leviathan gas field is believed to possibly contain alongside natural gas 42

billion barrels of oil Leviathan straddles the Israeli-Lebanese maritime border

10

Example of the investment Strategy Zero Coupon +Direct Investment 13 Strategy

bull The standard way to create capital protected notes for a variety of underlying asset types

bull The initial investment strategy of the Harvest Stargate Fund Ltd is allocated (13 of its assets) into or through structured funds and High Yield Treasuries and Bonds

ndash Buying a zero coupon bond that will mature at 100 at the maturity of the transaction [cost of zero coupon bond = 75] Buying the Underlying Fund (or an option on the Fund if such can be created) using [100 - price of zero coupon = 25]

T = 0 Maturity eg5- 7 years

euro100 invested euro75

Price of

Zero

Coupon

Bond

euro25

Underlying Fund

RISKLESS

Zero coupon

Bond will mature

at euro100 to repay

Principal in full

RISKY

Payoff

dependent on

Underlying Fund

Zero

Coupon

Bond

Matures

At euro100

Payoff

eg at euro50

Redemption

Of euro100+50

bull This structure is the oldest and simplest principal protection strategy

ndash TOTAL RETURN OF UNDERLYING FUND 5025 = 2000

ndash TOTAL RETURN OF INVESTMENT 150100 = 1500

11

Fund Structure 13 of the fundrsquos assets are investment into protected asset classes with 100 Initial Participation or Real Estate Assets

SPV

Put Option

at Guaranteed Amount

Investment

euro 100

Fund

Units

Investor

Hellenic Bank PLC Administrator

Zero Coupon Bond

(Riskless) Underlying Fund

(Issuer)

ISSUER

at Maturity

Part 1

Dynamic Rebalancing

euro 100 initially euro 0 initially

Part 2

Put Option

HFS as the fund manager

Determines the proportion

of Assets invested

in the Underlying Fund or

the 0-Coupon Bond

Or Real Estate Assets

bull Part Portfolio Capital protection is composed of 2 parts

1 A dynamic rebalancing between an investment into the Underlying Fund and a zero coupon bond

Objective to ensure that funds are invested in the Underlying Fund for the maximum time possible

Through the fund structure it is possible to capture 100 of the performance of the Underlying Fund

2 An unconditional put at 100 at maturity

To ensure full repayment of 13 capital in case the dynamic rebalancing is insufficient

12

Successful Investment Strategy

bull The Harvest Stargate Fund Ltd offers individual investors access to unique multi-asset multi manager investment strategy usually only used by sophisticated institutional investors and hedge fund managers The principal questions faced by any private investor today are how to allocate their investable funds between the various asset classes available how would this asset allocation should be regularly reviewed and how they can be certain that theyrsquore in the best possible funds run by the best possible fund managers The Harvest Stargate fundrsquos objective is to deliver returns in excess of those offered by traditional investment funds by the careful and active allocation of the portfolio across the five key asset classes-bonds equities property capital protected funds and commodities-combined with the active selection of the best performing underlying fund managers

Global MacroReal Estate

Capital Protected

Equity LongShort

bull Primary Fund strategy focused on undervalued equities in Europe and US either directly or through selected highly rated mutual funds Investments in the CY and GR markets will take an opportunistic approach based on fundamental catalysts that will yield capital gains for the fund

bull Secondary strategy overlaying portfolio focused on different products The addition of capital protected notes as the strategy yields stability and earns possible coupons for the fund

bull Tertiary strategy overlaying portfolio focused on currency management and occasional non-equity opportunities such as bonds forex commodities and real estate funds and property assets13 of the Funds assets are allocated into this dynamic strategy which offers stability and growth

13

Experienced and Accessible Investment Manager

bull Founded in Cyprus in 1998 (EPEY since 2003)

ndash Harvest Financial Services Limited (ldquoHFSrdquo) is a Cyprus based fund

management group providing discretionary portfolio management

services to high net worth individuals institutions and mutual funds

both in Cyprus and abroad (wwwharvestgroupcomcy)

bull Head Office in Nicosia

ndash Key management and staff nearby and available to investors to

answers questions regarding investment strategy performance

Harvest Stargate Fund Ltd mechanics and administration

bull Regulated by the Cyprus Securities and Exchange Commission License

Number 02103

bull Affiliated with some of the Worldrsquos most prestigious investment service

Providers

14

The Fundrsquos Asset Allocation Process Financial Instrumentrsquos

FuturesOptions

Equities

ENERGY

EAST MED

RUSSIA Real Estate

Energy Focus

60

GOLD

GLOBAL ENERGY DIVERSIFICATION

Fundrsquos Underline

Strategies

15

Primary Strategy FOCUS ON NATURAL GAS COMPANIES

bull Primary Strategy FOCUS ON ENERGY-NATURAL GAS AND OIL (60 ASSET ALLOCATION)

bull The First and core strategy seeks to buy undervalued equities either on an individual or sector basis and hold them for capital appreciation and income for the medium term The Fund will engage models prior in investing in speculative investments and simulate possible return vs risk prior of entering in such transactions

bull The strategy also seeks to identify major changes of direction in key markets through independent analysis of relevant macro-economic factors trend developments and investor sentiment Harvest seeks to vary overall market exposure accordingly either through further allocationsreductions to existing holdings or investmentdivestments in market heavy weights The strategy does not aim at a particular geographical exposure but rather is driven by a sector approach Historically Europe and US have provided the main holdings for the strategy but Israel and Russia are currently in focus

US 20

Continental Europe

20

South East Europe

15

Cyprus 15

Greece 15

UK 5

Other 10

EAST MED INVESTMENT OPPORTUNITIES

ndash Global gas use over

next 30 years

(bcm)

1048729 2000 - 2527

1048729 2010 - 3377

1048729 2020 - 4254

1048729 2030 - 5047

Tamar and Leviathan the two biggest

deep-water Gas discoveries of the past 10 years

16

MED ENERGY Primary Strategy Equities Long Short Hedged

GLOBAL MACRO PRIMARY STRATEGY 60 Weight of Portfolio (FOCUS ON MED ENERGY)

bull Delek Energy Delek Drilling and Avner Nobel Energy Lukoil initiating coverage on the fund diversification policy Triple digit upside potential of an oil discovery Symbols (DELKGTA) (AVNRPTA) (DEDRPTA) (DLENTA) (NBL NYSE) (LUKOIL DR) (CUSIP 677862104) MICEX (Moscow) Gazprom (OGZPY) TOTAL OIL (TOTNYSE) (GASCSE)

bull The value of the Levithan Tamar and the Cyprus Aphrodite Reserves (12) can be derived from two sources The

value of the natural gas reserves and the value of the oil potential The current share prices do not reflect value of oil potential Ratio share price partially reflects an oil discovery highest upside potential from an oil discovery Levithan oil results likely in early 2012 US-based Noble Energy has discovered gas in Block 12 of Cyprusrsquo Exclusive Economic Zone (EEZ) and the reserve is thought to be 30-40 higher than estimates Tamar was discovered in 2009 and holds an estimated 87 tcf (246 bcm) of natural gas It is expected to come on-stream in 2013 and investment is estimated at $4 bln Peak production for the first phase is targeted at 10-12 bln cfd Leviathan was discovered in December 2010 with reserves estimated at 16 tcf (453 bcm) It is estimated its production life would be 2017-48 with gas sold from two LNG trains each with a capacity of 75 mln tonsyear The first would come on-stream in 2017 the second in 2020 Total development costs would amount to $14 bln It forecasts that 75 of the LNG would be shipped to Europe and the remaining 25 to Asia

17

INDUSTRY GROWTH LNG

-

5

10

15

20

25

30

35

2007 2009 2011 2013 2015

Bcf

da

y

Peru

Malaysia

Indonesia

Brunei

Australia

Nigeria

Yemen

UAE

Oman

Qatar

Egypt

Algeria

Trinidad

World LNG Production May Double by 2016

LNG hub in Cyprus seems most likely

Cyprus seems to be gaining popularity as a potential hub for a future LNG facility that would help pump natural

gas upstream from the Israeli and adjacent Cypriot offshore fields and use the island to transport the product to

customers Two reports have cited the current geopolitical climate in the Middle East and North Africa as

reinforcing the case for Israeli gas while looking at Cyprus as an alternative solution to lengthy and politically

sensitive pipelines in other countries Recent natural gas discoveries halfway between Cyprus and Israel at the

Tamar and Leviathan fields estimates gas reserves at 25 tr cubic feet (705 bln cum) enough to meet domestic

demand for several decades and enough to transform Israel into an energy exporter the Middle East Economic

Survey

18

INDUSTRY FOCUS ndash RECENT DEVELOPMENTS

ldquoWith the increasing financial burdens clouding Europes future it is crucial to ascertain how we can explore new opportunities to gauge how the new discoveries will help pave the way out of an economic crisis and lead to forming new business alliances shape difficult strategic relations and of course determine how new energy will bring about a wealth of positive change in old watersrdquo

bullCypriot minister Block 12 gas production by 2017

bullBlock 12 owned 70 by Noble Energy and 30 by Delek has an estimated 8 trillion+ cubic feet of gas just

under half the size of the nearby Israeli Leviathan field

bullCypriot Minister of Commerce Industry and Tourism Mr Neoklis Sylikiotis says that Noble Energy Inc (NYSE

NBL) plans to begin a second round of drilling at Block 12 in 2013 begin production by 2017 and begin exports

by 2019 Noble Energy owns 70 of Block 12 and Delek Group Ltd (TASE DLEKG) units Avner Oil and Gas LP

(TASE AVNRL) and Delek Drilling LP (TASE DEDRL) each own 15 Block 12 has an estimated 8 trillion cubic

feet of gas just under half the size of the nearby Israeli field Leviathan owned by the same companies together

with Ratio Oil Exploration (1992) LP (TASERATIL)

bullMr N Sylikiotis added that Cyprus expects to earn euro300 million from its offshore gas and oil concessions

bullAccording to the Cyprus Mail today In the government gazette edition of August 17 the US firm invited bids for two

separate contracts which taken jointly suggest that it is pressing forward with the natural gas field - approximately nine

months after it announced a significant find there It adds Subsea testing costs around US$350 million Analysts say

the total tab for developing the Block 12 prospect including all the facilities for subsea testing as well as the pipelines

could come to $35 billion

bullPublished by Globes [online] Israel business news - wwwglobes-onlinecom - on August 22 2012

19

INTERNATIONAL INTEREST

bull Novatek Shows Interest in Cyprus Offshore Oil Gas Licenses

bull By Stelios Orphanides and Anna Shiryaevskaya - Apr 5 2012 617 PM GMT+0300

bull OAO Novatek (NVTK) Russiarsquos second-biggest natural-gas producer is looking at bidding for

licenses to explore off Cyprus after the island nationrsquos first gas discovery attracted global

companies

bull Leonid Mikhelson Novatekrsquos billionaire chief executive officer flew to Cyprus for talks yesterday

Neoklis Sylikiotis Cyprusrsquo commerce and industry minister told reporters in Nicosia today The

country is accepting applications for a second licensing round until May 11

bull Houston-based Noble Energy Inc (NBL) reported the first discovery off Cyprusrsquos coast in

December with results from the Cyprus A-1 well indicating as much as 8 trillion cubic feet of gas

The find prompted ldquoa lot of interestrdquo in the area Sylikiotis said

bull Cypriot President Demetris Christofias also met with Mikhelson and a Russian delegation including

OAO Gazprombank Chairman Andrei Akimov said Phidias Pilides the chairman of the Cyprus

Chamber of Commerce and Industry

bull Novatekrsquos press service confirmed the company is considering participating in the announced

tenders

bull The Siberian companyrsquos natural-gas production and sales are now limited to Russia where state-

run OAO Gazprom (GAZP) the worldrsquos biggest producer controls the pipeline network and

exports Novatek ended a concession agreement last year to its only exploration project outside

Russia the El-Arish project in Egypt after drilling didnrsquot find commercial prospects

20

INTERNATIONAL INTEREST ndash FUTURE DEVELOPMENTS

bull Gas Liquefaction

bull The Russian gas producer may invest in Cyprusrsquos gas industry including gas production transport

and processing if it is successful in the licensing round Pilides said by phone from Nicosia

Liquefaction and petrochemical projects may follow he said Chinese companies have already

submitted proposals for construction of a gas facility Sylikiotis said last week

bull Cyprus must hold a ldquoconsiderablerdquo stake in a proposed liquefaction plant to export its gas Sylikiotis

said on March 28 As construction costs will be ldquoextremely highrdquo Cyprus is seeking ldquomultiparty

cooperation with the involvement of other important countries and energy giantsrdquo he said at the

time

21

INTERNATIONAL INTEREST ndash KEY PLAYERS

bull Israel Opportunity lists unit on Cypriot Stock Exchange

bull Cyprus Opportunity and Norways AGR are bidding for two Cypriot offshore exploration licenses

bull 22 July 12 Amiram Barkat

bull Cyprus Opportunity Energy plc (CSE GAS) a subsidiary of Israel Opportunity - Oil and Gas Exploration Ltd listed its shares

for trading on the Cyprus Stock Exchange last week at a market value of euro14 million Sources inform Globes that Cyprus

Opportunity plans to hold a public offering in 2013 It is a sister company of Israel Opportunity Energy Resources LP

(TASE ISOPL) Cyprus Opportunity is controlled by Israeli Norwegian and Cypriot shareholders The Israeli shareholders

are Rony Halman and Uri Aldubi the general partners of Israel Opportunity The Norwegian shareholders are the owners of

AGR Group Inc which is jointly bidding with Cyprus Opportunity for two of the offshore exploration licenses that the Cypriot

government is offering - Block 2 and Block 8

bull The two companies submitted their bids on May 11 as part of the 2nd Licensing Round tender for 12 offshore licenses

Cyprus Opportunity acquired 2D seismic data on which it has already performed preliminary analysis as part of its business

strategy The Cypriot government is due to publish the results of the tender in November Cyprus Opportunity says that even if

it does not win in the tender it will continue to operate in the Cypriot offshore oil and gas exploration business through joint

ventures with third parties

bull Israel Opportunity owns 5-10 of the five of the deep-water Pelagic licenses - Aditya Ishai Lela Yahav and Yoad - covering

500000 acres 170 west of Haifa between Leviathans Ratio Yam and Block 12 which includes the Aphrodite structure in

Cypruss exclusive economic zone (EEZ) Israel Opportunity owns 10 of the licenses Beny Steinmetz and Teddy Sagi each

own 425 and AGR owns 5

bull Cyprus says that Cyprus Opportunity is the first oil and gas exploration company to list on the stock exchange The Cyprus

Stock Exchange is still recovering from a corruption and insider trading scandal from almost ten years ago

bull 25 consortia have filed 15 bids for the 12 licenses Industry sources believe that the size of the signature fee that the bidders

will offer the Cypriot government will be an important factor in selecting the winners The Cypriot government and the gas

developers will sign production sharing contracts

bull Published by Globes [online] Israel business news - wwwglobes-onlinecom - on July 22 2012

22

INDUSTRY FOCUS ndash REGIONAL EFFECTS

bull Shekel appreciation and ldquoDutch diseaserdquo to be mitigated through a SWF

With Israelrsquos current account surplus likely to get even bigger in the future concerns have been

raised about ldquoDutch diseaserdquo ie a large appreciation of the shekel damaging the competitiveness

of Israelrsquos non-energy exports While further shekel appreciation appears very likely we think the

extent of appreciation can be reduced through the establishment and careful management of a

SWF that would help to sterilize a large part of the natural gas-related FX inflows

bull The real game-changer could be oil

Geological tests suggest a possibility that in addition to natural gas Israel might also find sizeable

quantities of offshore oil While the lsquoprobability of successrsquo is currently considered to be low our

calculations suggest that in the event of success oil could potentially deliver a boost to GDP

growth the budget and the external balance that might potentially be even bigger than the impact

from natural gas This would also imply a larger appreciation potential for the shekel and an even

greater requirement to manage the resulting macroeconomic challenges through a carefully

managed sovereign wealth fund

More meaningful results of geological tests on oil are expected in late 2013

23

EAST MED DEVELOPMENTS

bull The east Mediterranean island is working with Israel 300 miles (480 kilometers)

south across the sea on plans to build a pipeline to link their gas fields before

the fuel is liquefied for export to Europe or Asia Israeli Prime Minister Benjamin

Netanyahu said Feb 16 2012

24

Geographic Map

Source Delek Energy

25

Important Legal Note

bull The material provided herein is for informational purposes only It does not constitute an offer to sell or a solicitation of an offer to buy any securities relating to any of the products referenced herein notwithstanding that any such securities may be currently being offered to others Any such offering will be made only in accordance with the terms and conditions set forth in the Offering Memorandum pertaining to such fund Alternative investments such as hedge funds and ICIS are subject to less regulation than other types of pooled investment vehicles may be illiquid and can involve a significant use of leverage making them substantially riskier than the other investments including any products which may be shown as comparison herein Prior to investing investors are strongly urged to review carefully the Offering Memorandum (including the risk considerations described therein) and all related fund documents to ask such additional questions of the Investment Manager as they deem appropriate and to discuss any prospective investment in the Fund with their legal and tax advisers in order to make an independent determination of the suitability and consequences of an investment

bull This presentation does not constitute an offer or solicitation to any person in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation It is the responsibility of any person or persons in possession of this material to inform themselves of and to observe all applicable laws and regulations of any relevant jurisdiction Prospective investors should inform themselves and take appropriate advice as to any applicable legal requirements and any applicable taxation and exchange control regulations in the countries of their citizenship residence or domicile which might be relevant to the subscription purchase holding exchange redemption or disposal of any investments

bull Investment in ICIS Funds are suitable only for sophisticated investors for whom an investment in such fund does not constitute a complete investment program and who fully understand and are willing to assume and understand the risks involved While the given material is subject to change and although based upon information which we consider reliable it is not guaranteed as to accuracy or completeness No person has been authorized to give any information or to make any representation warranty statement or assurance not contained in the Offering Memorandum and if given or made such other information or representation warranty statement or assurance may not be relied upon

bull Past performance is not a guide to future performance and the value of investments and the income derived from those investments can go down as well as up Future returns are not guaranteed and a loss of principal may occur Harvest Financial Services Ltd makes no warranty or representation that the security and or recommendationthe fund made are appropriate for all recipients and investors

bull Opinions expressed are current opinions as of the date appearing in this material only No part of this material may be i) copied photocopied or duplicated in any form by any means or ii) redistributed without Harvest Financial Services Ltd prior written consent

26

IMPORTANT INFORMATION

ldquoThe Central Bank of Cyprus shall not be liable by virtue of its recognition of the ICIS or by

reason of its exercise of the functions conferred on it by the International Collective Investment

Schemes Law Recognition of the ICIS does not constitute a warranty by the Bank as to the

creditworthiness or financial standing of the various parties to the ICISrdquo

Supervision of ICIS

In accordance with section 3 of the Law the Central Bank of Cyprus is the regulatory and

supervisory authority in the Republic of Cyprus for ICIS their managers and trustees

An ICIS must sell redeem or repurchase its units at the request of unit holders in accordance

with its constitutional documentation Units may not be issued as partly paid and may not be

sold unless the equivalent of the net issue price is paid Basic Rules for the calculation of sale

redemption or repurchase price can be found in ldquoRegulations on the valuation of the

property of an ICISrdquo

Taxation

Any gains or profits generated by an ICIS of any type including a unit trust or an investment

limited partnership are subject to an effective tax rate of 0425 while no further tax is

imposed on any dividends or other distributions made by an ICIS to its unit holders The

income of managers and trustees if not permanent residents of the Republic which is

generated from services they offer to ICIS is exempt from income tax

27

Professionals

bull Fund Regulator Central Bank of Cyprus bull Investment Manager Regulator Cyprus Securities amp Exchange Commission bull Investment Manager ndash Harvest Financial Services Ltd bull Internal Auditor KPMG Advisory Services Ltd bull Administrator ndash Hellenic Bank Public Ltd bull Custodian - Hellenic Bank Public Ltd bull Auditors ndash PKP Professional Services Ltd bull Legal Advisor ndash Drakos amp Efthymiou - Tornaritis Law bull Hellenic Bank Public Ltd bull Wall Street Global LLC bull Interactive Brokers LLP bull Deutsche Bank Securities Israel Ltd- via Hellenic Bank PLC bull XNET European Broker Systems

Professionals