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 Orange Fund 

 Independent of the Market

 Orange Fund is a Singapore based private investment vehicle set up by Leonie Hill Capital Pte Ltd.
 The fund primarily invests in undervalued medium-sized companies in Korea to maximize profit-taking.
 Leonie Hill Capital invests using a value-oriented investment strategy focused on their intrinsic value
 and the dividend yields. Orange Fund is supported by Leonie Hill Capital's proprietary research database.

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  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2008 3.06 3.05 2.02 3.63 2.35 3.76 3.26 2.62 4.07 4.14 4.31 0.82 44.01
2007 4.16 3.11 2.83 3.89 3.95 4.71 6.02 3.30 3.50 8.04 3.24 3.03 62.68
2006 - - - - - - - - - - - 3.31 3.31


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