H O F F M A N A SSE T M A N A G E M E N T I N C .

3602 Golf View Drive Phone: 717-732-1319

Hampden, PA 17050 Fax: 847-574-7425
Email: dean@traderstech.net

Modified Global Trend Following Program Performance

Monthly Performance (Net of Fees) Performance

2007 2008 2009 2007 32.80%

VA M I
Jan Jan 3.11% Jan -1.8%
2008 26.04%
Feb Feb 12.10% Feb 1.48%
$ 1,800.00
Mar Mar -4.78% Mar -0.97% 2009 YTD 2.94%
Apr 0.80% Apr 0.42% Apr -3.21% $ 1,600.00
May 4.48% May 0.94% May 7.77%
$ 1,400.00
Program Stats
Jun 3.54% Jun 3.24% Jun
Jul -0.93% Jul -7.38% Jul
$ 1,200.00 Minimum account: $125,000
Aug 2.55% Aug 0.47% Aug
Sep 13.36% Sep 2.49% Sep $ 1,000.00
Notional Funding Yes $50,000
Oct 5.95% Oct 4.63% Oct 04 /07 Management Fee: 2%

10 08

04 /08
09
10 07

Nov -1.97% Nov 5.47% Nov Incentive Fee: 20%

0/

0/
/
1

0
31

/3

/3

/3

/3
Dec 1.82% Dec 3.96% Dec Margin/Equity Ratio
4/

Year 32.80% 6%
Year 26.04% YTD 2.94% Avg.
*Maximum Drawdown
-7.69%
(Mar. 1 —July 31,
Funds Managed 28.1 Million

All performance results independently verified and computed by CPA firm Futures Accounting and Compliance

Notes:
1 Drawdown means losses experienced by the composite over a specified period.
2 Rate of Return is calculated by dividing the Net Performance by the Adjusted Beginning Net Asset Value
(Beginning Net Asset Value plus time weighted additions and withdrawals) multiplied by 100.
*3 Worst Peak-to-Valley draw-down is the greatest cumulative percentage decline in month-end net asset
value of the composite due to losses during a period in which the initial month-end net asset value is not
equaled or exceeded by a subsequent month-end ne.
4 The Advisor had 4.7 exempt customer accounts for which performance is not shown.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS INHERENT IN FUTURES
TRADING IS SUBSTANTIAL. AN INVESTOR COULD POTENTIALLY LOSE MORE THAN THE INITIAL INVEST-
MENT. INVESTORS MUST READ THE CURRENT DISCLOSURE DOCUMENT BEFORE THEY INVEST. A COMPLETE
DISCUSSION OF FEES AND CHARGES ARE REPORTED IN THE CTA’s DISCLOSURE DOCUMENT.
The Global Trend Following Program is truly a global futures trend following trading program, selecting
trades from approximately 70 liquid futures markets from the U.S. and around the world. Virtually every sec-
tor is included from grains, meats, currencies, stock indices, softs, energy, metals, interest rates, etc. It is
comprised of multiple trading systems programmed to synergistically work together as one adjusting to the
markets technical changes in volatility, trendiness, etc. It is dynamic; changing with the underlying environ-
ment of the markets. The overall logic is trend capturing in nature utilizing pattern recognition across multiple
time frames. An exclusive ranking strategy monitors over 70 markets and constantly creates a dynamic vs.
static portfolio of markets to trade. This results in more concentrated bets in a smaller universe of markets. The
risk management structure is designed to minimize volatility. We constantly monitor new trade entry risk as
well as managing ongoing open trade equity risk. The net result of this activity is a reduction in the standard
deviation of returns.

Markets Traded (partial list)

Currencies (Aussie, Pound, Canadian, Euro, Dollar, Yen, Mex Peso, Franc)
Interest Rates (Bankers Accept., Bund, Bobl, Eurodollar, Euribor, Gilt, Sht. Sterling, 5 yr, Jap. Govt.
Bond, 10 yr, 30 yr)
Energies (Crude, Heating Oil, Gasoline, Kerosene, Gas Oil, Natural Gas)
Grains (Bean oil, Corn, Jap Corn, Jap. Soy, Palm Oil, Kansas Wheat, Canola, Soybeans, Soybean Meal,
Wheat)
Metals (Gold, Copper, Platinum, Aluminum, Nickel, Zinc, Silver)
Indices (Cac 40, Dax, FTSE, Hang Seng, Ibex, Nasdaq, Nikkei, S&P 500, Swiss Market Index, DJ Stoxx-
50, Taiwan Index)
Meats (Live Cattle, Lean Hogs)
Softs (Cocoa, Coffee, Sugar, Cotton)
Other (Japanese Rubber)

Before investing clients must read a full disclosure document which can be found here: http://www.hoffmantrading.com

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS INHERENT
IN FUTURES TRADING IS SUBSTANTIAL. AN INVESTOR COULD POTENTIALLY LOSE MORE
THAN THE INITIAL INVESTMENT. INVESTORS MUST READ THE CURRENT DISCLOSURE DOCU-
MENT BEFORE THEY INVEST. A COMPLETE DISCUSSION OF FEES AND CHARGES ARE RE-
PORTED IN THE CTA’s DISCLOSURE DOCUMENT.