(a) TO THE GENERAL PARTNER -- All new partners will remunerate the General Partner every June 30th and December 31st. New Partners’ remuneration will equal 15% of trading profits during each accounting period.

(b) TO THE SECURITIES BROKER/DEALER -- commissions on exchange traded securities and mark-ups or spreads in connection with transactions in U.S. government securities.

(c) ANNUAL OPERATING EXPENSES -- the General Partner will provide or pay all of the Partnership expenses for accounting, computer charges, rent, telephone, research, software, data feeds, and related items. The Partnership will reimburse the General Partner for these expenses based on a monthly rate equal to .1% of partnership capital. Such payments will be made on the 1st day of the month.

(d) LEGAL, ACCOUNTING AND FILING FEES -- will be paid by the Partnership as incurred.

(e) STATE REPLACEMENT TAXES -- will be paid by the Partnership as incurred.

(f) INTEREST EXPENSE -- the Partnership incurs margin interest expense to finance it’s trading activities and incurs bank interest charges to finance some of it’s initial public offering (IPO) activity. These expenses are paid by the Partnership as incurred.

Duggan and the principals of Jackson Boulevard Capital Management, Ltd. spend a substantial amount of time studying and investing in the savings and loan and thrift industries. The Partnership plans to invest primarily in the initial public offerings in the thrift industry. In the event that the Partnership is not able to subscribe for stock on the initial public offering, it is the Partnership's intention to purchase shares of securities following their initial public offering.

The investment method of the Partnership will primarily involve five factors. 1. Attempting to purchase initial public offerings in the Thrift Industry. 2. Purchasing shares of stock in the thrift industry after their initial public offering, 3. Investing in certain banking and insurance stocks and other financial institutions 4. The use of margined accounts when trading these securities, and 5. Investing in non-financial securities.

The use of a margin account for leveraged securities trading involves incurring additional risk. Margin trading has lead to higher performance results of the Partnership. The use of margin trading may lead to larger losses than non-margined trading. All margin expenses are borne by the Partnership.

The Partnership also intends to engage in the trading of various types of domestic securities including, but not limited to, listed and unlisted common stocks, preferred stock, stock warrants and rights, convertible securities, money market obligations and options to buy and sell securities, and to a lesser degree commodities such as currencies, commodity futures, agricultural and tropical items, industrial items, metals, and financial and economic indices. The Partnership's trading strategies will be derived from a fundamental and technical analysis of relative value within a given market. The Partnership intends to short securities in addition to buying or being long other securities.

The Partnership does not allocate a predetermined percentage of assets to financial securities, but will invest in security and commodity interests in which it sees a potential for capital appreciation regardless of market segment.

The Partnership plans to use a margin account to hold its securities. The Partnership intends to have a margin agreement on file - this document will spell out the rules governing the margin account including the hypothecation of securities, how much equity the customer must keep in the account, and the interest rate on margin loans. In general, the minimum margin requirement when borrowing from a broker to purchase securities is 50% of the sale price in cash or eligible securities, with a minimum of $2,000. The use of margin accounts and margin when purchasing securities involves a high degree of risk and can cause losses to add up much quicker.

At no time will the Partnership commit more than 25% of its asset value to any one position. There may be circumstances where a position appreciates in value and becomes more than 25% of the Partnership’s total asset value. In those instances, the Partnership will not be obligated to reduce its position to 25%. Further, the Partnership will attempt to be judicious in its use of options and commodities so as to control and benefit from leverage without exposure to undue risk.