EEA Life Settlements Fund Fact Sheet April 2010

This document is being directed only at persons who are professional clients or eligible counterparties for the purposes of the FSA’s Conduct of Business Sourcebook. Other persons should not act or rely on it in any circumstances. Your attention is drawn to the regulatory information and notices at the end of this document. Shares in the Fund are offered only on the basis of information contained in the Fund’s Offering Memorandum and Supplements. Any further information or representations given or made by any other person should be disregarded and, accordingly should not be relied upon.

An Absolute Return, Historically Uncorrelated Investment Solution
According to Conning Research & Consulting, Inc. (2009) “investors often view life settlements as a non-correlated asset, that is, changes in equities or fixed income markets do not affect life settlement returns”. Market Overview:
The United States life insurance market is estimated to have total insurance coverage of approximately US$21 trillion*. The value of polices purchased by the Life Settlements industry is considered to be in the region of US$12 billion annually*. We believe that there is a sustainable and rapidly evolving opportunity for Life Settlements to become a significant asset class appealing to a wide range of private and institutional investors.
*Source: Conning Research & Consulting, Inc. (2009)

Fund Statistics - 1st April 2010:
• Fund size circa US$782,000,000 • Total Sum Assured circa US$1,227,000,000 • 593 polices held by the fund • Policies issued by 92 Life Companies • Average original life expectancy 45 months • Policies matured 104 • Average current life expectancy 29 months • More than 95% of NAV of life policies with life companies whose AM Best rating is at least A • Average policy size US$2,069,616 • Cash from policies matured US$130m

Investment Objective
The aim of the EEA Life Settlements Fund (the “Fund”) is to provide a benchmark 8% annual net return on a stable long-term basis, with a target annual net return of 9% to 10%.

USD Class ‘A’ NAV per share since inception
146.00 144.00 142.00 140.00 138.00 136.00 134.00 132.00 130.00 128.00 126.00 124.00 122.00 120.00 118.00 116.00 114.00 112.00 110.00 108.00 106.00 104.00 102.00 100.00 98.00 96.00

NAV per share

9 Nov Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

05 05 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08 08 08 08 08 08 08 09 09 09 09 09 09 09 09 09 09 09 09 10 10 10

Source: International Administration (Guernsey) Limited

NAV per share performance at 31st March 2010
NAV per share YTD 1 Mth 3 Mth 6 Mth 12 Mth 24 Mth 2009

USD Class A Euro Class A GBP Class Dist * GBP Class Acc GBP Class A USD Class Dist * Euro Class Dist* USD Class Acc
* Distributions Reinvested

145.92 136.64 106.02 135.21 124.80 102.31 102.10 105.43

% 2.11% 2.05% 2.19% 2.17% 2.07% 2.30% 2.10% 2.17%

% 0.79% 0.77% 0.84% 0.82% 0.79% 0.94% 0.82% 0.84%

% 2.11% 2.05% 2.19% 2.17% 2.07% 2.30% 2.10% 2.17%

% 4.30% 4.27% 4.47% 4.41% 4.25% 4.49% 4.19% 4.61%

% 9.08% 8.81% 9.17% 9.22% 8.72% 9.26%

% 19.64% 19.69% 21.15% 21.48% 20.42% 20.15%

% 9.48 9.48 9.51 9.53 9.00 9.65

Annualised Since inception %

8.93% 7.32% 9.49% 9.99% 9.60% 9.63% 8.56% 9.49%

Source: International Administration (Guernsey) Limited

Investors are reminded that the value of investments may go down as well as up and may be affected by changes in rates of exchange.instruction and complete documentation to be received by 15th of each month Initial Charge: Up to 5% Management Fee: 1. Any opinions expressed are judgments at the time of writing and are subject to change without notice.com Some specific risks associated with the Fund • The underlying insured may live longer than expected • The Fund may not have access to liquid assets • There may be a delay claiming the death benefit due to missing policyholder / documentation • There is a counterparty risk in respect of the solvency of the insurance companies • Historically uncorrelated to traditional asset classes • Low volatility • Diversify and reduce portfolio risk • Aims for absolute return Aims to achieve a benchmark net return of 8% per annum with a target net return of 9-10% per annum Important Information: This material is being issued by EEA Fund Management (Guernsey) Limited (which is licensed by the Guernsey Financial Services Commission to carry on the restricted activities of promotion.john@eeafm. 1987 as amended). The promotion of the Fund and the distribution of this material in the United Kingdom is accordingly restricted by law. per annum (i.000 / €35.com Dealing and Administration: EEA Fund Management (Guernsey) Limited PO Box 282 Regency Court Glategny Esplanade St Peter Port Guernsey GY1 3RH t: +44 (0)1481 740900 e: eeaguernsey@eeafm. .com General Enquiries: Barry John EEA Fund Management Limited t: +44 (0)20 7553 2367 e: barry.com Launch Date: Currencies: Non-Eligible Investors: Valuation: Minimum Subscription: Minimum Top Up: Dealing Day: Subscription: UK Reporting Status: Why Invest? Yes www. This note does not provide or offer financial or other advice and should not relied on as such. LLC.winders@eeafm. management. no representations or warranties are given as to the reliability.com Institutional: Robert Drysdale EEA Fund Management Limited t: +44 (0)203 102 3436 e: robert.5% to EEA.eeafm. Sterling and Euro US Investors Monthly $50. Therefore.000 $10.e.complete instruction and cleared funds to be received three business days before deal date Redemption: Monthly . US Custodian: BNP Paribas Trust Company (Guernsey) Limited Sub Custodian and Escrow Agent: Bank of New York Mellon. dealing. indirect or consequential. Reference should be made to the Offering Memorandum and Supplements for full details. Potoczak & Company. subscription. Ohio Administrator: International Administration (Guernsey) Limited Auditor: Ernst & Young LLP. 25% to the Investor) Manager: EEA Fund Management (Guernsey) Limited Marketing Agent: EEA Fund Management Limited Investment Adviser: ViaSource Funding Group. and has been approved by EEA Fund Management Limited (which is authorised and regulated by the Financial Services Authority (“FSA").000 / £25.5% to ViaSource. Potential investors in the Fund should always seek their own independent advice. Reliance on this material for the purpose of engaging in any investment activity without professional advice may expose an investor to significant risk of losing the amount invested.000 / €7. This material is exempt from the scheme promotion restriction (in Section 238 of the Act) on the communication of invitations or inducements to participate in unrecognised collective investment schemes on the grounds that it is being issued to and/or directed at only the types of person referred to above. The rules on taxation can change and/or the tax treatment of the Fund could be challenged. Investments in the Fund do not provide capital guarantees like a deposit account and are not readily accessible.drysdale@eeafm. 37.000 First business day of each month Monthly . The Fund is not a recognised collective investment scheme for the purposes of the Financial Services and Markets Act 2000 of the United Kingdom (the “Act”).Fact Sheet April 2010 Key Facts November 2005 USD. Any person who is in any doubt about investing in the Fund should consult an authorised person specialising in such investments. Any recipient of this material who is not an authorised person may not distribute it to any other person. 37. shares in the Fund are only available to such persons and this material must not be relied or acted upon by any other persons. Past performance is not necessarily a guide to future performance. Any recipient of this material who is an authorised person may (if and to the extent it is permitted to do so by the FSA rules applicable to it) distribute it or otherwise promote the Fund in accordance with Section 238 of the Act but not otherwise. New York.000 / £5. including loss of profit whether direct. accuracy or completeness of information.katsis@eeafm. Cleveland. net of all fund charges and taxes. New Jersey.50% per annum Performance Fee: Payable above 8% return. No liability is accepted for any damage or loss.com UK Intermediaries: Yannis Katsis EEA Fund Management Limited t: +44 (0)20 7553 2369 e: yannis. this material is being directed only at persons who are professional clients or eligible counterparties for the purposes of the FSA’s Conduct of Business Sourcebook. It is expressly agreed that while all reasonable efforts have been made to ensure this document is accurate and up to date. US Servicing Agent: Mills. advising and administration in connection with Category 1 Collective Investment Schemes and Category 2 General Securities and Derivatives under The Protection of Investors (Bailiwick of Guernsey) Law. in respect of the use of this material. Guernsey Accounting Date: 31st December Bloomberg Tickers: GBP A Class EPICLSA GU Euro A Class EPICLSE GU GBP Dist Class EPICLSS GU USD A Class EPICLSU GU GBP Acc Class EPICLSC GU USD Dist Class EPICLBC GU ISIN Codes: Euro A Class GB00B0MT9184 SEDOL Codes: Euro A Class B0MT918 Euro Dist Class USD A Class USD Acc Class USD Dist Class GBP A Class GBP Dist Class GBP Acc Class GG00B1JROT74 GB00B0MT9309 GG00B4TH5937 GG00B2NW9S76 GG00B2NBJC85 GB00B0MT2Q49 GG00B1P8D518 Euro Dist Class USD A Class USD Acc Class USD Dist Class GBP A Class GBP Dist Class GBP Acc Class B1JRO77 B0MT930 B4TH593 B2NW9S7 B2NBJC8 B0MT2Q4 B1Z2ZR9 Contact Information Sales and Marketing: Peter Winders Marketing Director EEA Fund Management Limited t: +44 (0) 20 7553 2366 e: peter. To the extent that this material is issued by EEA Fund Management Limited.

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